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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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Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- The University of Queensland
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
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