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Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
 Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards Bay, several dollars below the prevailing API4 physical index, Indian traders said.
Traders supplying coal on a delivered basis to Indian end-users at fixed prices have been squeezed by the recent rise in South African Richards Bay coal prices which is forcing them to supply at a significant loss.
"Around half a million tonnes of cargo has been traded at least index minus $8.50 approximately," one Indian coal trader said.
Traders have been buying South African coal at floating prices based on the API4 index to meet commitments made at fixed prices.
Indian cement makers such as Ambuja tend to prefer South African coal to lower quality, cheaper Indonesian material.
The rise in API4 to 12-month highs has left some facing losses of up to $10.00 a tonne.
Most of the Indian traders who will import nearly 20 million tonnes of South African coal in 2009 have not hedged their coal or their freight.
Gujarat Ambuja bought around 500,000 tonnes of South African coal in the first week of November at prices of $82.00-$84.50 a tonne CIF India, Indian traders said.
Ambuja bought two December handymax cargoes at $83.00 a tonne CIF West Coast India, three cargoes for January-April at $84.50 a tonne CIF West Coast, three cargoes for April-May delivery at $84.50 a tonne CIF West Coast and two May cargoes at $82.00 a tonne CIF East Coast, they said.
The suppliers were three Indian coal trading companies.
At prices of $84.50 a tonne CIF, given prevailing freight from Richards Bay to India at the time of the deals, these prices net back to $61.50 a tonne FOB Richards Bay, traders said.
During the week of the deals, the API4 physical index of prompt Richards Bay prices was $66.64 a tonne, several dollars higher than the net back prices, they said.
Source: Reuters
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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 ...
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- Miang Besar Coal Terminal - Indonesia
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- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
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- Savvy Resources Ltd - HongKong
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- Sojitz Corporation - Japan
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- Ministry of Finance - Indonesia
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- Larsen & Toubro Limited - India
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- Petron Corporation, Philippines
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- Romanian Commodities Exchange
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- Maheswari Brothers Coal Limited - India
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- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
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- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
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- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
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- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
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- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
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- Commonwealth Bank - Australia
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- Parry Sugars Refinery, India
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- Economic Council, Georgia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Aditya Birla Group - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
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- Minerals Council of Australia
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- Bulk Trading Sa - Switzerland
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- Eastern Energy - Thailand
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- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
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- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
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- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
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- Chamber of Mines of South Africa
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- ICICI Bank Limited - India
- Agrawal Coal Company - India
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- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- PTC India Limited - India
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