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Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according to a trader, as reported by Bloomberg.
Purchases rose to 2.1 million metric tons, according to a note yesterday by mjunction Services Ltd., a web-based trader backed by India’s biggest steel producers. Purchases climbed 52 percent from a year earlier. Imports in the first seven months rose 14 percent to 11.63 million tons.
The nation’s thermal coal imports may climb to 72 million tons in 2011, according to Tata Power Co., which is setting up a coal-fired power plant with a capacity of 4,000 megawatts. The International Monetary Fund revised India’s 2010 economic growth forecast to 9.4 percent from its earlier prediction of 8.8 percent in April.
The power sector in India may face a coal shortage of 52.43 million tons in the year ending March 2011, mjunction said. citing India’s Coal Minister Sriprakash Jaiswal. The country’s demand for the fuel may be about 656 million tons this fiscal year, with users facing a shortage of about 83 million tons of the thermal and steel-making varieties.
Pakistani purchases from Richards Bay more than doubled to 182,624 tons in July from June, according to mjunction. Imports rose 44 percent in July from a year earlier.
Richards Bay increased shipments by almost 50 percent in July from June after a strike at Transnet Ltd. disrupted rail and port services the previous month.
Source: Bloomberg
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Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Pipit Mutiara Jaya. PT, Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
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