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Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA


Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inked their second batch of coal supply deals with Vietnam National Coal-Mineral Industries Group, according to a July 22 report from 21st Century Business Herald.

The deals represent supplies of over 2.3 million mt of Vietnamese 11A thermal coal (5,200-5,500 kcal/kg) in the second half of 2009. Of that, Guangdong Yudean Group will claim 2 million mt and Guandong Yatai Co. will get 300,000 mt.

The contract price for the 11A coal, however, has climbed to $54/mt FOB, up from $38-40/mt for the first batch of coal supplies, the report said.

Guangdong Province’s coal imports are estimated to reach 20 million mt in 2009, up from 13.84 million mt in 2008. In the first half of 2008, the province already imported over 11 million mt of coal.

Back in February, Guangdong Yudean Group, togetherwith several local companies, inked contracts with Vinacomin, as the state-owned Vietnamese miner is known, for over 7 million mt of 11A coal at the cheaper prices.

Vietnam expected to export around 20 million mt of coalin 2009, compared to 19.7 million mt in 2008. The country’s national coal output in 2009 was expected to reach 41-43.5million mt, up by about 3% year-on-year.



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