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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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Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
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