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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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Wednesday, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Lanco Infratech Ltd - India
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- White Energy Company Limited
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- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
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- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
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- Port Waratah Coal Services - Australia
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- Chamber of Mines of South Africa
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- Energy Link Ltd, New Zealand
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- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
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- The University of Queensland
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- Altura Mining Limited, Indonesia
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- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
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- Chettinad Cement Corporation Ltd - India
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- Indonesian Coal Mining Association
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- McConnell Dowell - Australia
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- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
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- Economic Council, Georgia
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- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
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- Leighton Contractors Pty Ltd - Australia
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- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
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- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
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- Ministry of Mines - Canada
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- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
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