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Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST


The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indonesia to boost coal sales.

With Australia now reportedly being unable to produce 90 millions tons of coal, the floods would “automatically” place Indonesia ahead of Australia as a preferred global coal supplier, Indonesia Coal Society director Singgih Widagdo said Friday in Jakarta.

“We only need to see exactly how much Australia is unable to produce. Indonesia’s production, on the other hand, is continually increasing. This year alone we’re estimating production of 320 million tons, based on the government’s calculation,” he said, as quoted by tempointeraktif.com.

Australia has long maintained a dominant position in coal exports to the Asian region, with significant supply positions (in descending order) in Japan, South Korea, Taiwan, China and India.

Australia had forecast coal exports of 150 millions tons this year, and was confident the figure could continually increase to up to 184 millions tons in 2014.

Director general for mineral and coal at the Energy and Mineral Resources Ministry, Bambang Setiawan, said the Australian floods would not significantly affect Indonesia’s coal industry, and local coal prices were indeed experiencing increases.

“The price increases are not only caused by that [Australian floods]. Coal prices usually trail increases in oil prices,” Bambang said.

The Indonesian government had set the price benchmark for coal with a gross energy value of 6,322 kilocalories a kilogram at US$112.40 in January, up from $103.41 last month.
Source: The Jakarta Post



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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...


Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...


Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...


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 ...


Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton. Thermal coal price for next ...


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