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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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Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
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- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
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