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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
 * Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal price benchmark for South African cargoes FOB Richards Bay has been unjustifiably high, leading to big price exposure for Indian traders buying against the index, K.K. Gupta, vice president of traders Swiss Singapore said on Thursday.
On Wednesday, a January and a February loading South African cargo traded at 12-month highs on globalCOAL, at $69.00 and $70.35 a tonne FOB Richards Bay respectively.
But trades at around those levels, reported by brokers and on trading platform globalCOAL, do not reflect the majority of business, Gupta said.
"There have been many trades done at $61-$63 a tonne FOB Richards Bay recently which have not been considered. Index prices of $66.00 cannot be justified," Gupta told Reuters.
Swiss Singapore from its Dubai office is one of the most active traders supplying South African and Indonesian coal to the Indian market, handling several million tonnes a year.
India has been the largest single buyer of South African coal this year, taking 30-35 percent of monthly exports out of a total of 60 million tonnes annually.
Indian trading companies have during the past year switched much of their South African coal buying to contracts linked to the API4 physical index from fixed-price deals but the volatility in API4 prices has squeezed their margins.
Many Indian traders have contracts with end-users at fixed CIF or CFR prices and are supplying coal bought at floating prices, leaving them exposed to huge price risk and losses if they have not hedged - and few have hedged coal or freight.
DISPUTE
In April Bhatia Coal India terminated a coal supply contract with traders Vitol and instigated arbitration in order to avoid loading South African cargoes at locked-in prices of $120 a tonne after the market fell by 50 percent
Vitol and Bhatia are still in dispute over $50 million as a result.
Vitol coal risk portfolio manager Peter Aitken said in October that 2008 saw a number of buyer defaults in coal, centred in the physical markets.
Price risk mitigation must be tackled urgently to avoid catastrophic situations, Aitken said
"The Indian subcontinent is lifting a good amount of quantity from South Africa and lately many traders have started dealing on an index basis," he said.
Richards Bay prices fell last August from a historic high of $150 a tonne to around $60 in January. From January-September prices remained in a range of about $58.00-63.00 but during the past month prices have risen close to $70.00.
"We would like to register our resistance regarding the API4 price published in the recent publications. In our opinion the price is quite high and it is absolutely not in line with the recent trades which have taken place for RB1 coal on FOB RBCT basis," Gupta said.
"The detail of the last four weeks publications are as under - First week of November $66.64, 5th week of October $65.61, 4th week of October $66.06, 3rd week of October $64.05, 2nd week of October $63.75," he said.
Swiss Singapore's own deals during the past 15 days have all been in the range $61.00-$63.00, he said.
The deals are as follows:
* First half November loading South African cargo bought at $61.50 a tonne FOB Richards Bay.
* Second half November loading cargo bought at $62.25 a tonne FOB.
* Prompt 75,000 tonne cargo sold at $62.80 a tonne FOB.
* Prompt cargo sold at $63.30 a tonne FOB.
"There are a number of transactions which have taken place in India and the Chinese markets for South African coal and the above reflects the true value of the cargoes," he said.
Source: Reuters
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Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
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- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Planning Commission, India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- The University of Queensland
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
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