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Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
 While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants, private companies who are importing coal for NTPC, may end up taking a hit due to rising freight rates.
Apart from the price of non-coking coal, factors such as freight rates and cost of fuel to sail a vessel, are the vital aspects that determine the import bill of a firm. So far, rates of coal, freight and fuel quoted by importing firms have risen sharply since September 2009, when MMTC, the state-owned trading company in-charge of sourcing coal for NTPC, revived the tender.
However, freight rates have risen the most in this period. While the price of non-coking coal from Australia’s Newcastle Port for the December 2009 contract - a benchmark index for Asia - has gone up to about $80 per tonne, from $70 in September, freight rates of handysize vessels have gone up by at least 70% in the said period. “As per the tender, both the price of coal and fuel are floating,” said a senior executive of MMTC.
“The fuel price is indexed to the Singapore bunker price (a marine fuel and shipping price index). So any hike in the rates will negate the losses as everything is covered,” the executive added.
However, while the importing firms may not suffer losses on account of a rise in prices of coal and oil, the increase in freight rates will affect them. “The freight rates we quoted was in the range of $14,000-15,000 per day in September. Now it is $24,000 per day,” said an industry executive.
“We will suffer a loss of at least $7 on every tonne of coal imported if the freight rates stay at this level,” he added.
The freight rates are not floating and an importer will have to incur the cost on an hourly basis. Supply of coal is likely to begin in 10-15 days and most of the coal will be sourced from Indonesia and South Africa.
Three companies — Adani Enterprises, Agarwal Coal and Bhatia Coal — are expected to execute the import order of 12.5 million tonnes of non-coking coal over 12 months. Bhatia Coal and Agarwal Coal will import 2.5 million tonnes and 3.75 million tones of coal, respectively, while the rest will be imported by Adani.
MMTC re-opened the import tender in mid-September after a previous bid was suspended on allegations of improper standards. MMTC had called for bids from private parties to supply coal on June 4, 2009, which it subsequently cancelled.
Source: Economic Times
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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
...
Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
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- Electricity Generating Authority of Thailand
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- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
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- Indian Energy Exchange, India
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- Australian Commodity Traders Exchange
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- Eastern Energy - Thailand
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- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Romanian Commodities Exchange
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- White Energy Company Limited
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- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
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- Power Finance Corporation Ltd., India
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- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Standard Chartered Bank - UAE
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- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
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- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
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- Billiton Holdings Pty Ltd - Australia
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- PowerSource Philippines DevCo
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- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
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- Lanco Infratech Ltd - India
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- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
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- Ministry of Mines - Canada
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- Renaissance Capital - South Africa
- Economic Council, Georgia
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- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
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- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
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- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- London Commodity Brokers - England
- Minerals Council of Australia
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- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
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- The Treasury - Australian Government
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- Global Coal Blending Company Limited - Australia
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- PTC India Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
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- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
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- Maharashtra Electricity Regulatory Commission - India
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- Eastern Coal Council - USA
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