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Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
 Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short of the corridor’s nameplate yearly capacity of 70-million tons, and had come in at closer to an annualised 60-million tons, Transnet acting CEO Chris Wells revealed on Thursday
Speaking in an interview with Mining Weekly Online, which took place at the group’s head office in downtown Johannesburg, Wells said that the company and the industry “would have done extremely well” if they achieved volumes of between “64-million tons and 65-million tons” for the year as a whole.
At the start of its financial year on April 1, 2009, the State-owned group’s rail division had budgeted to handle 69-million tons up until March 31, 2010. But, heavy rains during the first quarter, some operational problems on the line itself and an “indifferent” supply of coal from the mines had all but put paid to that ambition.
In unveiling its annual results on Wednesday, Transnet reported that volumes railed down the coal channel – which connects the coalfields of Mpumalanga province, on the eastern side of South Africa, to the Indian Ocean-facing RBCT, in KwaZulu-Natal – fell to a “very disappointing” 61,9-million tons in 2008/9.
Wells said that he was particularly unhappy about last year’s decline, which capped a three-year trend of underperformance, with volumes having fallen consistently since 2006, when 68,8-million tons were railed.
The acting CEO, who took over temporarily from Maria Ramos earlier this year, while the Transnet board sought a permanent replacement, had become personally involved in the matter. He told Mining Weekly Online that he was in the middle of a series of engagements with senior executives from the country’s leading coal exporters in a bid to understand the constraints and to set in place actions to raise volumes again.
Since September, there had been a concerted effort from Transnet to improve the corridor’s performance and there had been intensive interactions with the mines and the RBCT.
“But now the mines have run short,” Wells said, adding that two large mining groups had acknowledged in recent meetings that they were not producing to plan.
But many of these miners were also unhappy with the fact that Transnet had not set in place firm plans to raise capacity on the corridor to match the expanding capacity of the RBCT.
The R1,2-billion “Phase V” expansion had been delayed and would now only be commissioned by the fourth quarter of 2009, instead of July 1, as initially planned.
But, the RBCT’s new nameplate capacity of 91-million tons a year was well in advance of the rail channel’s 71-million tons, and Transnet Freight Rail had indicated initiated expansion plans to raise that capacity to around 80-million tons through the addition of new rolling stock.
Moreover, its R3,4-billion acquisition of 110 dual-voltage locomotives was a full year behind schedule, which had raised anxiety levels even further.
Wells acknowledged these tensions, but stressed that “relationships” were being built and “greater trust” developing.
“We have as much interest as any of the mines to get this channel up to 75-million tons year in, year out as soon as possible, while we look at future expansion options,” he said, adding that Transnet had no intention of getting in the way of committed expansion.
But, the group was insisting on firm, long-term take-or-pay contractual arrangements before it committed to what would be a “very significant” capital investment programme to raise capacity to above 90-million tons.
“We are not going to spend many billions and then face a coal industry exporting 65-million tons,” Wells outlined, adding that there was a lot of work being done “together”, with the help of external advisers, to reach a deal of the expansion of the line.
Source: Mining Weekly (http://www.miningweekly.com/article/sa-coal-exports-unlikely-to-breach-65mt-this-year-transnet-2009-06-25)
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Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
Tuesday, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
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- VISA Power Limited - India
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- Gujarat Sidhee Cement - India
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- Central Electricity Authority - India
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- Antam Resourcindo - Indonesia
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- ICICI Bank Limited - India
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- GMR Energy Limited - India
- Eastern Energy - Thailand
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- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
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- Electricity Authority, New Zealand
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- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- The University of Queensland
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- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
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- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
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- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
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- Dalmia Cement Bharat India
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- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
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- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
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- Independent Power Producers Association of India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
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- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
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- IEA Clean Coal Centre - UK
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- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
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- Petrochimia International Co. Ltd.- Taiwan
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