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Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
 * S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities have agreed 2009 thermal coal contracts with three Chinese producers at about $78.50 a tonne, down more than 45 percent from a year ago but in line with asking prices from China, two utility sources said on Wednesday.
Two separate utility sources said the five power companies have agreed to buy a total of three million tonnes of thermal coal from China's Shenhua Energy Co, China Coal Group and Datong Coal Mine Group.
The headline price of $78.50 a tonne is based on coal with a heating value of 5,800 kcal/kg (NAR) and is significantly higher than the low-$60s range which South Korean utilities were seeking as early as last month.
Apart from the agreed 3 million tonnes, South Korea's five power companies -- Kosep, Kospo, Komipo, Kowepo and Kewespo -- are also individually negotiating with Chinese producers for additional tonnage, said one of the utility sources.
"We've decided to settle with the Chinese because prices are now on an uptrend and there are also considerations that supplies may tighten in the third and fourth quarter, which could push prices higher," said the utility source who requested anonymity because he was not authorised to speak to the media.
The agreement, which was signed on Tuesday, comes amid a recent surge in Asian coal prices, which have jumped about 18 percent since May to about $74 a tonne on the globalCOAL Newcastle index, after touching a four-month high of $77.19 last week.
The long overdue settlement for contracts beginning from April may also set the tone for negotiations between Japanese utilities and Chinese miners, which have also been locked in annual contract talks since early this year.
Source: Reuters (http://www.reuters.com/article/rbssEnergyNews/idUSSYD47631820090617)
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Thursday, 18 June 09
GERMAN COAL BUYERS SEE LOWER IMPORTS, PRICES
* Coal imports and prices fall as steel industry slumps
* Coal industry grapples with carbon polluter image
German imports of hard coal are like ...
Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- IHS Mccloskey Coal Group - USA
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- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
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- Tata Chemicals Ltd - India
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- Metalloyd Limited - United Kingdom
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- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
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- Eastern Energy - Thailand
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- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
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- Economic Council, Georgia
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- IEA Clean Coal Centre - UK
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- Wilmar Investment Holdings
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- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
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- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
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- Planning Commission, India
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- Petron Corporation, Philippines
- Ministry of Mines - Canada
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- Central Electricity Authority - India
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- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
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- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
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- Indian Oil Corporation Limited
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- Xindia Steels Limited - India
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- GVK Power & Infra Limited - India
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- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
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- Global Coal Blending Company Limited - Australia
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- Ministry of Transport, Egypt
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- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
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- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
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