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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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Wednesday, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
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 ...
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- The State Trading Corporation of India Ltd
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- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
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- Deloitte Consulting - India
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- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
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- Anglo American - United Kingdom
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- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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- Energy Link Ltd, New Zealand
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- Indogreen Group - Indonesia
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- Kobexindo Tractors - Indoneisa
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- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
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- Tamil Nadu electricity Board
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- Parliament of New Zealand
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
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- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
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- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
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- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
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- Independent Power Producers Association of India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
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- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
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- Electricity Authority, New Zealand
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- Goldman Sachs - Singapore
- Economic Council, Georgia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
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- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
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- Mintek Dendrill Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
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- Georgia Ports Authority, United States
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- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
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- Parry Sugars Refinery, India
- Central Electricity Authority - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Interocean Group of Companies - India
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- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
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- Binh Thuan Hamico - Vietnam
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