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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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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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- Global Business Power Corporation, Philippines
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- The University of Queensland
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- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
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- Australian Coal Association
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- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
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- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
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- Power Finance Corporation Ltd., India
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- Xindia Steels Limited - India
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- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
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- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
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- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
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- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
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- PowerSource Philippines DevCo
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- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
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- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
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- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
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