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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 $63.30 a tonne FOB.
"There are a number of transactions which have taken place in India and the Chinese markets for South African coal and the above reflects the true value of the cargoes," he said.
Source: Reuters
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Aditya Birla Group - India
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