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Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
 CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher international shipping rates.
In the latest development, Reuters reported yesterday that a cargo of high-ash, low-volatile content Australian coal already on the water was offered at $US72 a tonne after the Chinese buyer cancelled the contract.
Chinese coal traders contacted today were mostly unaware of any cancellation, but some said that if a cargo already on the water had been cancelled, this would be very unusual.
A trader with a southern China company said imported coal was no longer cheaper than domestic coal due to higher freight rates and the rising price of imports.
His company, the trader said, had as a result now stopped importing coal from Australia.
News of the reported cancellation was the subject of chatter in foreign exchange markets yesterday, and some participants suggested that commodity-related tensions between Australia and China may have been an element involved.
RBC Capital Markets senior strategist Sue Trinh said the reported cancellation "might have been simply due to China already having enough on stockpile, and slower domestic demand pick-up, but the timing was intriguing".
China's imports of Australian coal have risen sharply this year. In the first five months of 2009, these imports were six times higher than during the same period a year earlier, at 10.47 million metric tons, according to the latest data released by China customs.
May import levels were dramatically higher, at 3.65 million tons, 15 times higher than in May 2008.
The buying spree earlier this year was mainly a result of a plunge in Australian coal prices and freight rates, as global economic woes slashed regional demand for coal and curbed trading activity, traders said.
As a result, Asia benchmark coal prices plummeted by two thirds from a July 2008 peak of $194.8/ton.
However, demand from China has helped prices rally by around 20 per cent since early April.
Australian coal at the port of Newcastle, a regional benchmark, was assessed around $US73.13/ton by globalCOAL today, compared with around $US60 in early April.
In addition, bulk freight rates have more than doubled over the past month, with the Baltic capsize index up 220 per cent and the broader Baltic Dry up 130 per cent, Citigroup said yesterday in a research note.
China's benchmark spot coal prices, which were quoted at 590 yuan to 605 yuan on Monday, have remained relatively stable since February, data released by the China Coal Transportation and Distribution Association shows.
Coal stockpiles in China are very high. Stocks at the major coal shipping port of Qinhuangdao stood at 6.6 million tons on Monday, the highest level in almost four months, despite higher demand for thermal coal from power generation during the summer.
Stockpiles at power plants are also high, the association said, and added that power plants along the Yangtze River in eastern China had enough coal for 21 days of consumption and plants in central China had enough for 67 days.
Source: The Australian
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Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
Tuesday, 14 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 11%; SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 11 ...
Monday, 13 July 09
EXPORT COAL PRODUCTION FROM MOOIPLAATS COULD START IN NOVEMBER
Mining Weekly reported that, South Africa-focused emerging miner Coal of Africa (CoAL) has completed a revised mining layout for its Mooiplaats ...
Monday, 13 July 09
NAPOCOR AWARDS 195,000 T COAL TO INDONESIAN FIRMS
ABC-CBN News reported that, Philippine electricity producer National Power Corp (Napocor) has awarded 195,000 tons in coal supply contracts to two I ...
Monday, 13 July 09
PAKISTAN TO IMPORT ABOUT 2.4 MILLION TONS OF INDONESIAN COAL AND 1.6 MILLION TON OF SOUTH AFRICAN COAL WITHIN NEXT 12 MONTHS
COALspot.com (Pakistan) : Pakistan has exported well over 12 million tons of cement while local sales have dropped a bit with the result 33 million to ...
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- Riau Bara Harum - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
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- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Energy Development Corp, Philippines
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- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
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- Asmin Koalindo Tuhup - Indonesia
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- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
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- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Jindal Steel & Power Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
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- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
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- Parliament of New Zealand
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- Petron Corporation, Philippines
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- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
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- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
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- Chamber of Mines of South Africa
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- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
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- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
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- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Thiess Contractors Indonesia
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- Jorong Barutama Greston.PT - Indonesia
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- Directorate Of Revenue Intelligence - India
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- ICICI Bank Limited - India
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- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
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- Indogreen Group - Indonesia
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- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- CNBM International Corporation - China
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