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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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- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- PTC India Limited - India
- Australian Coal Association
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
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