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