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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Vijayanagar Sugar Pvt Ltd - India
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- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Planning Commission, India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
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- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
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- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
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- Sical Logistics Limited - India
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- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
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- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
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- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
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- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
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- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
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- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
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- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
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- Siam City Cement - Thailand
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- Siam City Cement PLC, Thailand
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