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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 $63.30 a tonne FOB.
"There are a number of transactions which have taken place in India and the Chinese markets for South African coal and the above reflects the true value of the cargoes," he said.
Source: Reuters
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Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
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- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
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- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Parliament of New Zealand
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- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
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- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
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- SN Aboitiz Power Inc, Philippines
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- The Treasury - Australian Government
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
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- Electricity Generating Authority of Thailand
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- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
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- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
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- Coal and Oil Company - UAE
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- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Central Electricity Authority - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
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- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
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