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Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
 The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which majority of steel makers sign long-term agreement with suppliers, said senior executives of two large steel companies.
This, in turn, would increase the production cost and may adversely affect the bottom-line of steel producers unless they pass on the incremental cost to the consumers, said a senior executive of a leading steel maker.
There are couple of reasons for the price rise, said JSW Steel joint managing director Seshagiri Rao. “Due to economic crisis of 2008, many mines in Australia, which are dominant in coking coal, have shut down. This has resulted in sharp decline in supply of coking coal in comparison to early 2007,” he said. Domestic steel producers largely import coking coal from Australia.
In addition to the supply constraint, demand for coking coal from China, which was so far going slow on steel production, has again picked up, Rao said.
Due to the global economic slowdown, coking coal prices (long term and spot) had come down to less than half in April 2009 in comparison to the previous year. In April 2009, domestic steel makers had entered into long term agreement with overseas suppliers for coking coal at around $130 per tonne as against $300 per tonne in the previous year.
The spot price for the coking coal have come down to $180/tonne from a high of $400/tonne in April 2008. Spot prices of coking coal have, however, again started moving up.
As a result, steel producers such as Steel Authority of India (Sail), Tata Steel and JSW may land up signing long term agreements for coking coal at around $145-150 per tonne in April when these long term agreements will come for renewal.
“Indications show that there could be a marginal hike in long-term contracts’ prices for coking coal next year. The prices hike will also bridge the vast gap between long term and spot market prices,” said a senior SAIL executive. India’s largest steel maker Sail consumes 10 million tonne of coking coal every year and is largely dependant on Australia and the US for imports.
JSW Steel consumed 4.5 million tonne of coking coal this year and the requirement will further go up to 5 million tonne next year.
Source: Economic Times
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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Sical Logistics Limited - India
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- San Jose City I Power Corp, Philippines
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- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
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- Bhushan Steel Limited - India
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- Indian Energy Exchange, India
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- The University of Queensland
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- The State Trading Corporation of India Ltd
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- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
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- Energy Development Corp, Philippines
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- MS Steel International - UAE
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- Ministry of Finance - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
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- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
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- Planning Commission, India
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- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
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- Energy Link Ltd, New Zealand
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- Global Business Power Corporation, Philippines
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- Interocean Group of Companies - India
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- Merrill Lynch Commodities Europe
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- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
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- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
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- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
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- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
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- Standard Chartered Bank - UAE
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- GVK Power & Infra Limited - India
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- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
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- Medco Energi Mining Internasional
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- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
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