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Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
 Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years in Australia’s Queensland state disrupted output from the world’s biggest shipper of the fuel.
Prices may increase to between $270 and $300 a metric ton, analysts from Macquarie Group Ltd., Morgan Stanley and Daiwa Capital Markets said. Mills agreed to pay $225 a ton for the three months starting Jan. 1, Bank of America Merrill Lynch analysts said last month.
“Queensland accounts for the majority of the premium hard coking coal supply on a global seaborne basis,” Alex Tonks, a commodity strategist at Bank of America Merrill Lynch in Sydney, said by telephone. “A lot of operations have been impacted. It certainly looks pretty bad at this stage.”
Rain in the Australian state has inundated an area the size of France and Germany, prompting BHP Billiton Ltd. and Rio Tinto Group to declare force majeure, a legal clause that allows mines to miss deliveries. About 37 percent of the world’s traded coking coal is affected, according to Macquarie. Queensland floods in 2008 left steel producers, including Japan’s Nippon Steel Corp. and JFE Holdings Inc., with a threefold increase in annual contract prices to about $300 a ton.
Australian free-on-board prices may climb to $270 a ton for three-month contracts starting April 1 as the floods threaten to take as much as 10 million tons of metallurgical coal out of the market, said Colin Hamilton, a London-based Macquarie analyst.
Thermal Coal
Morgan Stanley said prices may surge to $292.50, and Daiwa Capital analyst David Brennan said they may jump to $300. Free on board is a term indicating that delivery at the seller’s expense is included in the invoice price.
Flooding is also affecting thermal coal, used by power stations, driving the price of supplies at the port of Newcastle in Australia’s New South Wales, the benchmark for Asia, to the most in 27 months. Prices jumped 3 percent to $126.10 a ton in the week ended Dec. 31, the most since Oct. 2008, according to IHS McCloskey, a Petersfield, U.K.-based provider of coal data.
Coking coal suppliers traditionally held annual talks with steelmakers to fix benchmark contracts for the 12 months from April 1, the start of the Japanese financial year. BHP has urged the industry to move to short-term deals to make prices more responsive to market changes. It agreed with JFE Holdings to the first three-month accord in March last year.
‘Price Spike’
Steelmakers may agree to monthly pricing for coking coal, as proposed by BHP, in a “price spike environment” rather than locking in $300 a ton for a whole quarter, Macquarie said in an e-mailed research note Jan. 4.
“We’re moving away from that quarterly contract pricing,” Daiwa’s Brennan said from Melbourne. “I can see that BHP wants to go to monthly. When I say $300 a ton that would be for one month in April for example, but not for the three months.”
There will be a “material impact” on Australian exports of coking coal, even if no further rain falls, Morgan Stanley Melbourne-based analysts Peter Richardson and Joel Crane wrote in a report yesterday. The cumulative loss of production is expected to maintain upward pressure on spot prices for several weeks to come, they said.
Coal stockpiles at Gladstone harbor in Queensland are “very low” after flooding shut a rail network, said Craig Walker, acting chief executive officer of Gladstone Ports Corp. Eighteen ships are waiting to load and 12 more are expected at the harbor in the next 10 days, he said.
‘Blue-Sky Scenario’
“The flooding will provide further upside to international coal prices and a floor to Chinese prices,” Helen Lau, an analyst at UOB-Kay Hian Ltd., said by telephone from Hong Kong. “It’ll easily take six to eight weeks, in a blue-sky scenario, before Australian supplies return to normal. Maybe it’ll take three to four months.”
Tata Steel Ltd. said it increased purchases in December in preparation for the adverse weather. The Mumbai-based company, India’s biggest producer of steel, ensured it had sufficient supplies, Managing Director H.M. Nerurkar said Jan. 4 by phone. To read more Bloomberg
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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
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