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Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
 * China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may threaten S.Korean supplies
Reuters the leading world's news agency reported that, Indonesian miners have already sold about 20 million tonnes of thermal coal to Chinese buyers for delivery in 2010, and total exports to China could far exceed the volume that will be recorded this year, producers said on Wednesday.
Continued strength in Chinese imports, coupled with an expected rise in Indian demand, could mean that South Korean utilities could be caught short of supplies if they continued to avoid annual contracts and instead focus on spot tenders to secure their fuel needs.
Sources from the top five coal producers in Indonesia, such as Bumi Resources, PT Adaro Energy and PT Kideco, said the total volume of thermal coal sold to China for 2010 delivery has reached at least 15 million tonnes -- on par with the total volume China has imported from Indonesia from January to September this year.
"Chinese buyers have been very eager to sign 2010 term supply contracts. We've done some deals and the prices they've agreed to are pretty good," said a source from one of the largest Indonesian coal firms.
The firm's total thermal coal sales to China for 2010 have so far reached 7 million tonnes, with bituminous coal prices averaging at $66 a tonne FOB based on 5,500 kcal/kg (NAR) and sub-bituminous coal inked at about $56 basis 5,000 kcal/kg (NAR).
He spoke on condition of annonymity because he was not authorised to speak to the media because of the confidential nature of the deals.
Another large producer said the firm had agreed to contract 4 million tonnes of sub-bituminous coal to China for 2010, up from the 3.5 million tonnes it will ship in 2009, but prices have not yet been agreed.
"Chinese buyers are looking to lock in more tonnage but quite frankly, we've already sold out for our 2010 supplies. We don't have any more coal to sell," he said.
Thanks to Chinese demand, coal prices have rebounded 33 percent from a near two-year low of around $58 a tonne struck in late March to above $77 this week, based on globalCOAL's Newcastle index.
S.KOREAN UTILITIES CAUGHT SHORT?
In an effort to exploit the sharp swing in coal prices this year, South Korean utilities have avoided annual contracts with most Indonesian and Australian producers and instead launched a raft of spot tenders to secure supplies when prices were low.
But some producers said that procurement strategy, which has served them well this year, could backfire in 2010.
Strength in Chinese imports, growing Indian demand, along with a forecast rebound in domestic coal needs, could combine to soak up a large proportion of Indonesian coal, producers and traders said.
"There's a chance that the South Korean utilities could misread the market and be caught short of supplies if they keep thinking that they can bank on spot tenders," said the first producer source. "They could turn to Australia, but that will mean higher prices because of freight rates."
Indonesia, which is expected to produce 250 million tonnes of coal in 2010, plans to cap coal exports at 150 million tonnes by as early as next year, to ensure domestic supply, an official said on Wednesday, in a move that could eventually curb supply from the world's top thermal coal exporter.
Source: Reuters
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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Petrochimia International Co. Ltd.- Taiwan
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- VISA Power Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
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- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
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- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
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- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- The University of Queensland
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- Energy Link Ltd, New Zealand
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- Chamber of Mines of South Africa
- McConnell Dowell - Australia
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- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
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- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
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- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
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- Interocean Group of Companies - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Semirara Mining and Power Corporation, Philippines
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- Bulk Trading Sa - Switzerland
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- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
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- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
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- Thiess Contractors Indonesia
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- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
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- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
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- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Goldman Sachs - Singapore
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