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