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