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Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
 Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first drop in five weeks as Europe’s recession cut demand for the fuel.
Richards Bay is the biggest single source of coal for Europe. The euro-region economy may shrink 4.5 percent this year, the World Bank said today, worse than its previous estimate of a 2.7 percent contraction. Companies from Germany’s Linde AG, the world’s second-biggest maker of industrial gases, to Charter International Plc, Europe’s biggest maker of welding gear, have cut output and jobs, reducing demand for power.
Export prices at Richards Bay declined $7.40, or 11 percent, to an average of $57.90 a metric ton in the week ended June 19, according to McCloskey Group Ltd. They have more than halved over the past 12 months.
“The main reason for that drop was European demand weakness,” Manqoba Madinane, an analyst with Standard Bank Group Ltd. in Johannesburg, said by phone today.
E.ON AG, Germany’s biggest utility, said coal stocks at its Kingsnorth power station in southeast England are at “almost full capacity,” spokesman Jonathan Smith said by phone today.
A 1.2 billion-rand ($147 million) expansion of Richards Bay Coal Terminal has been delayed until the fourth quarter after a risk assessment found the project wouldn’t be ready by July 1, Chief Operating Officer Raymond Chirwa said June 15.
Shipments vs Capacity
The terminal, located on South Africa’s eastern coast, will have an annual capacity of 91 million tons when the expansion is completed. At its current shipment rate, Richards Bay will export 54.2 million tons of coal this year, compared with its 76 million-ton capacity and actual shipments of 61.79 million tons last year.
Shipments fell to 3.76 million tons in May from 4.75 million tons a year earlier, the lowest level in 16 months. The terminal is owned by South Africa’s largest coal exporters, including Anglo American Plc, BHP Billiton Ltd. and Xstrata Plc.
Power-plant coal prices at Newcastle, Australia a benchmark for Asia, fell 7.7 percent to $70.81 in the week to June 19, according to the globalCOAL NEWC Index. While Richards Bay is the world’s biggest coal-export terminal, Newcastle ships more of the fuel from two terminals.
Benchmark European coal derivatives, used to bet on or hedge against future prices, declined. Coal for delivery to Amsterdam, Rotterdam or Antwerp with settlement next year fell $3.50, or 4 percent, to $85 a ton by 11:05 a.m. in London, according to a composite figure compiled by Bloomberg.
The data are compiled from information supplied by ICAP Plc, GFI, Spectron Group Ltd., Tullett Prebon Plc, Credit Suisse Group AG, McCloskey Group Ltd., Bloomberg and TFS.
Source: Bloomberg (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=afzDslvcIZhI)
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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
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- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
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- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
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- Eastern Coal Council - USA
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- Merrill Lynch Commodities Europe
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- OPG Power Generation Pvt Ltd - India
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- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
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- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
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- Agrawal Coal Company - India
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- Sojitz Corporation - Japan
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- GMR Energy Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
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- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Trasteel International SA, Italy
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- Bahari Cakrawala Sebuku - Indonesia
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- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
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- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
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- Ambuja Cements Ltd - India
- Deloitte Consulting - India
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- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
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- Commonwealth Bank - Australia
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- Planning Commission, India
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- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
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- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
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- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- International Coal Ventures Pvt Ltd - India
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- Wilmar Investment Holdings
- Bangladesh Power Developement Board
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- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
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- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
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- Bulk Trading Sa - Switzerland
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- Australian Coal Association
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- Standard Chartered Bank - UAE
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- Global Coal Blending Company Limited - Australia
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- San Jose City I Power Corp, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
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- Edison Trading Spa - Italy
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