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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 $63.30 a tonne FOB.
"There are a number of transactions which have taken place in India and the Chinese markets for South African coal and the above reflects the true value of the cargoes," he said.
Source: Reuters
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Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
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- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
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