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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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Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
Saturday, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
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- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
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- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
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- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
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- VISA Power Limited - India
- Australian Commodity Traders Exchange
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- MS Steel International - UAE
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- San Jose City I Power Corp, Philippines
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- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
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- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Marubeni Corporation - India
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- Economic Council, Georgia
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- Chamber of Mines of South Africa
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- Alfred C Toepfer International GmbH - Germany
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- Billiton Holdings Pty Ltd - Australia
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- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
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- Ministry of Transport, Egypt
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- The University of Queensland
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- Parry Sugars Refinery, India
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- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
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- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
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- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
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- TeaM Sual Corporation - Philippines
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- Romanian Commodities Exchange
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- India Bulls Power Limited - India
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- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
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- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
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- Directorate Of Revenue Intelligence - India
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- Electricity Authority, New Zealand
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- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
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- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
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- Indo Tambangraya Megah - Indonesia
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- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
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