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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 government managed to privatize most of its coal-fired power generation assets.
Napocor fuel manager Nellie Delos Reyes said Napocor had earmarked about P1.9 billion for its coal purchases in 2010, down from the P26 billion set aside for this year’s procurement.
Of the budget, P1.1 billion would be allotted for coal imports, which usually comes from Indonesia, while the remaining P810 million would be for local purchases. These figures are subject to change depending on current market prices at the time of procurement, she added.
The estimates and planned purchases will be presented next week to the Napocor board for approval.
Napocor used to supply the coal requirements of the 1,000-MW Sual power plant in Pangasinan, 700-MW Pagbilao plant in Quezon and the 600-MW Calaca facility in Batangas.
However, with the privatization efforts being undertaken by Power Sector Assets and Liabilities Management Corp., Napocor is left with only the Naga facility to tend.
“As you know, we’re no longer taking care of Calaca, Pagbilao and Sual so that reduces our coal transactions,” said Napocor president Froilan A. Tampinco, in an interview.
The Calaca facility was recently turned over to the Consunji-led DMCI Holdings Inc., which offered the government $361.7 million for the power plant.
Food and beverage giant San Miguel Corp. bagged the independent power producer administrator (IPPA) contract for the Sual power plant with an offer of $1.07 billion.
Source: Philippine Daily Inquirer
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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.
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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
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 ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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