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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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- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
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- Latin American Coal - Colombia
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- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
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- Thai Mozambique Logistica
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- Chamber of Mines of South Africa
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- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
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- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
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- Energy Link Ltd, New Zealand
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- Iligan Light & Power Inc, Philippines
- Australian Coal Association
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- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
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- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
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- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- The University of Queensland
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
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- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
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- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
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- Romanian Commodities Exchange
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- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
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- LBH Netherlands Bv - Netherlands
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- Globalindo Alam Lestari - Indonesia
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- Economic Council, Georgia
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- SMC Global Power, Philippines
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- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
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- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
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