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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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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
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