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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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Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- London Commodity Brokers - England
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
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