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Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
 Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years in Australia’s Queensland state disrupted output from the world’s biggest shipper of the fuel.
Prices may increase to between $270 and $300 a metric ton, analysts from Macquarie Group Ltd., Morgan Stanley and Daiwa Capital Markets said. Mills agreed to pay $225 a ton for the three months starting Jan. 1, Bank of America Merrill Lynch analysts said last month.
“Queensland accounts for the majority of the premium hard coking coal supply on a global seaborne basis,” Alex Tonks, a commodity strategist at Bank of America Merrill Lynch in Sydney, said by telephone. “A lot of operations have been impacted. It certainly looks pretty bad at this stage.”
Rain in the Australian state has inundated an area the size of France and Germany, prompting BHP Billiton Ltd. and Rio Tinto Group to declare force majeure, a legal clause that allows mines to miss deliveries. About 37 percent of the world’s traded coking coal is affected, according to Macquarie. Queensland floods in 2008 left steel producers, including Japan’s Nippon Steel Corp. and JFE Holdings Inc., with a threefold increase in annual contract prices to about $300 a ton.
Australian free-on-board prices may climb to $270 a ton for three-month contracts starting April 1 as the floods threaten to take as much as 10 million tons of metallurgical coal out of the market, said Colin Hamilton, a London-based Macquarie analyst.
Thermal Coal
Morgan Stanley said prices may surge to $292.50, and Daiwa Capital analyst David Brennan said they may jump to $300. Free on board is a term indicating that delivery at the seller’s expense is included in the invoice price.
Flooding is also affecting thermal coal, used by power stations, driving the price of supplies at the port of Newcastle in Australia’s New South Wales, the benchmark for Asia, to the most in 27 months. Prices jumped 3 percent to $126.10 a ton in the week ended Dec. 31, the most since Oct. 2008, according to IHS McCloskey, a Petersfield, U.K.-based provider of coal data.
Coking coal suppliers traditionally held annual talks with steelmakers to fix benchmark contracts for the 12 months from April 1, the start of the Japanese financial year. BHP has urged the industry to move to short-term deals to make prices more responsive to market changes. It agreed with JFE Holdings to the first three-month accord in March last year.
‘Price Spike’
Steelmakers may agree to monthly pricing for coking coal, as proposed by BHP, in a “price spike environment” rather than locking in $300 a ton for a whole quarter, Macquarie said in an e-mailed research note Jan. 4.
“We’re moving away from that quarterly contract pricing,” Daiwa’s Brennan said from Melbourne. “I can see that BHP wants to go to monthly. When I say $300 a ton that would be for one month in April for example, but not for the three months.”
There will be a “material impact” on Australian exports of coking coal, even if no further rain falls, Morgan Stanley Melbourne-based analysts Peter Richardson and Joel Crane wrote in a report yesterday. The cumulative loss of production is expected to maintain upward pressure on spot prices for several weeks to come, they said.
Coal stockpiles at Gladstone harbor in Queensland are “very low” after flooding shut a rail network, said Craig Walker, acting chief executive officer of Gladstone Ports Corp. Eighteen ships are waiting to load and 12 more are expected at the harbor in the next 10 days, he said.
‘Blue-Sky Scenario’
“The flooding will provide further upside to international coal prices and a floor to Chinese prices,” Helen Lau, an analyst at UOB-Kay Hian Ltd., said by telephone from Hong Kong. “It’ll easily take six to eight weeks, in a blue-sky scenario, before Australian supplies return to normal. Maybe it’ll take three to four months.”
Tata Steel Ltd. said it increased purchases in December in preparation for the adverse weather. The Mumbai-based company, India’s biggest producer of steel, ensured it had sufficient supplies, Managing Director H.M. Nerurkar said Jan. 4 by phone. To read more Bloomberg
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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
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