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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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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
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