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Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
 Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ore, thermal coal supply contracts have now been signed at a much higher price than last year. Recently, term contracts for Newcastle coal were signed at $97-98/mt between producer Xstrata and Japan’s Chubu Electric for 2010-2011, about 40 per cent higher than last year. These were initial contracts. Thermal coal is used by power plants.
Initial expectations were that contracts for thermal coal would be signed at $85-90 a tonne. Last year, thermal coal contracts were settled at $70 a tonne.
James O’Connell, managing editor, Platts, the premier agency that tracks the energy sector, said: “This initial contract is assumed by many to be a benchmark, especially when it is between two such big players.”
Some Japanese utilities link prices of their contracts to the global COAL index. Hence, they do not negotiate an annual price, just an annual tonnage contract. However, according to James: “Bumi Resources, Indonesia’s largest coal producer, told Platts that one of its two coal producing units, Kaltim Prima Corp, settled an FY10 contract with a major Japanese thermal coal buyer at $104/tonne FoB.”
India is expected to import nearly 60 million tonnes of thermal coal this year. MMTC and Adani Enterprises are major importers.
Thermal coal spot prices, ruling around contract prices at present, are unlikely to move up further. According to industry sources, China is presently not in the market and subdued imports from the neighbouring country mean prices will remain capped.
Jigar Shah, head of research, KIM ENG Securities India, said: “This is an initial contract and most of India’s thermal coal imports are from Indonesia. The prices at which they are negotiated will be crucial for Indian power and cement plants which import coal.” Many new private sector power companies import thermal coal. Most of India’s coal imports come from Indonesia and South Africa.
Source: Business-Standard (By: Rajesh Bhayani)
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Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Vedanta Resources Plc - India
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- Tata Chemicals Ltd - India
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- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
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- Wood Mackenzie - Singapore
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- Standard Chartered Bank - UAE
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- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
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- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
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- Salva Resources Pvt Ltd - India
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- Edison Trading Spa - Italy
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- Formosa Plastics Group - Taiwan
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- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
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- Goldman Sachs - Singapore
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- Bhoruka Overseas - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
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- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
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- Gujarat Mineral Development Corp Ltd - India
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- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- Minerals Council of Australia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
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- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
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- Kapuas Tunggal Persada - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
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- The University of Queensland
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- Attock Cement Pakistan Limited
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- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
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- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
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- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
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- Electricity Authority, New Zealand
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- Chamber of Mines of South Africa
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