We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
|
|
|
Showing 6266 to 6270 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
|
| |
| |
|
