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