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Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
 Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festival which could depress prices.
A deluge of supply from Indonesia amid weak demand has sent prices of power-station coal from Australia to 3 1/2-months low.
Thermal coal prices on the globalCOAL Newcastle weekly index, a benchmark for Asia, edged down $0.67 from the previous week to $66.46 a tonne on Wednesday on plentiful coal supply from Indonesia, amid a seasonally low demand period.
Indonesian bituminous coal with a heating value of 6,300 kcal/kg air-dried basis was offered at around $60 a tonne, FOB vessel, and around $55 for FOB barge basis, roughly unchanged from last week.
"Demand is still there, but not much," a regional trader said.
But traders saw demand from China and from other Southeast Asian countries such as Thailand picking up amid a drop in coal prices.
"China is scouting for bituminous coal with heating value above 6,100 kcal/kg as prices are already low now," said an Indonesian trader with a small mine in East Kalimantan in Borneo island, producing about 200,000 tonnes a month.
"We were approached to supply 70,000 tonnes a month to a new Chinese buyer," he said, adding that Chinese buyers are looking for shipment from October onwards.
Some analysts said China's demand for imported coal could increase further in coming months, as a recent wave of coal mine closures triggered by a mine explosion could raise domestic coal prices, making imports more attractive.
There were no physical trades for Newcastle coal registered at the globalCOAL platform this week.
* INDONESIAN SUB-BITUMINOUS
Indonesian sub-bituminous coal with a heating value of 5,300-5,500 kcal/kg (ADB) was offered at around $32 a tonne, FOB vessel for prompt shipment.
Indonesian producers were rushing to offer their sub-bituminous coal to ease stocks as production was piling up due to good weather and slow domestic demand.
"There has been no rain in Kalimantan for the past weeks. Normally, rains have started at this time of year. This (dry period) allows miners to boost production," another Indonesian trader said.
People are also selling off their coal to ease stock before the Eid Al-Fitr holiday to avoid the risk of fire from self-igniting coal, which often occurs, traders said. Many Indonesian offices will be closed from Sept. 18-23 for the holiday.
But plentiful sub-bituminous coal coal supply amid slow demand has put pressure on spot prices, with buyers able to buy the fuel at below $30 for coal of 5,500 kcal/kg, traders said.
"Buyers have plenty of choice now. I would sell at a bargain if there were any buyers that are interested in prompt shipment," the first Indonesian trader said.
A drop in prices has lured Chinese buyers to buy Indonesia's cargoes, the first Indonesian said, adding it has received a request to supply 60,000 tonnes a month of coal of 5,000 kcal/kg gross as-received to a Chinese buyer.
Meanwhile, Indian buyers had approached Indonesian suppliers for supply commitment to join a government tender.
Source: Alibaba
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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 ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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