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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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Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
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- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
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- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
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- Singapore Mercantile Exchange
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- Ministry of Mines - Canada
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- Mintek Dendrill Indonesia
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- Tata Chemicals Ltd - India
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- Orica Australia Pty. Ltd.
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- Mercator Lines Limited - India
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- Sarangani Energy Corporation, Philippines
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- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
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- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
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- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
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- PetroVietnam Power Coal Import and Supply Company
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
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- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
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