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Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
 * Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, the Indian market is paying the highest prices at present for South African spot coal, South African coal producers and traders said.
The spread between South African and Pacific origin coal has become extremely wide. Australian coal is around $18.00 a tonne more expensive for Q4 and Indonesian several dollars higher.
Even at a premium over the published index, South African coal is the cheapest option not just for India but also Asia.
Indian traders who account for the bulk of the country's spot imports said they were paying prices ranging from flat to the API4 index to premiums of up to $1.00 for South African coal for shipment during the balance of this year.
India, like China, is a price-driven market. Buyers will switch rapidly to whatever coal origin is most economic and use creative blending to obtain the qualities they need.
Outside of India it would not be possible to sell spot South African coal at a premium given the lack of demand elsewhere, traders and producers said.
The API4 index is a weekly-set published assessment of spot physical prices for FOB Richards Bay coal cargoes. API4 coal swaps are settled against it and monthly API4 index prices are used widely as the basis of contracts.
Buying or selling coal against the indexes allows companies to manage their price risk by using swaps.
Indian buyers have become increasingly adept at buying index-linked coal and using hedging tools.
SOUND INDICATOR
Given the lack of European spot buying, during the past few months the prices paid by India have become a sound indicator of market value.
India is taking an increasing share of South Africa's coal exports to fill the gap between domestic coal supply and demand.
Between January-June this year India took nearly 9 million tonnes of South Africa's 28 million tonnes of exports, compensating for sharply falling demand from Europe, historically South Africa's key export market.
"For us it's merely a question of who's paying the best prices and without a doubt, it's India. The choice isn't difficult between selling at a discount to Europe or a premium to India," said one major South African producer and exporter.
Producers and traders have for years charged slightly higher prices to some Indian buyers to reflect increased credit risk. But even taking risk into account, Indian buyers are prepared to pay more than their European counterparts, sellers said.
"We'd obviously like to buy at a discount to the index and have managed to from time to time but the majority of our buying has been flat to index and now sellers of even lower quality coal are asking for $1.00 above API4," one Indian coal importer said.
Even Kangra coal of less than standard RB1 quality is being offered at a premium of $1.00 a tonne over the API4 index, buyers said.
Source:Reuters
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Thursday, 30 July 09
KOMIPO OFFERED 3 MILLION MT IN TENDER, TEN TIMES OVERSUBSCRIBED
Korea Midland has received offers for 3 million mt of bituminous steam coal in its latest tender despite the power utility seeking only 300,000 mt, ...
Thursday, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
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- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
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- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
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- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
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- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
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- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
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- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
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- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- White Energy Company Limited
- Economic Council, Georgia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
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- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
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- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
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