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Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY

COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous coal for Boryeong Power Plant.

The delivery period of 5,700 kcal/kg NAR bituminous coal on FOBT, Fixed price for the 1st CY (Oct 2014 - Mar 2015).

In case of Australian, Canadian, South African and Colombian Coal, then each 125,000 (cape size shipment) MT of shipments should be delivered for Q4 2014 and Q1 2015 respectively. In case of Russian Coal, then 4 X 70,000 mt of coal should supplied for the period Q4 2014 - Q1 2015.

According to tender document, bidders are requested to offer a single fixed price for 250,000 MT (+/-10% shipping tolerance) or 280,000 MT(+/-10% shipping tolerance). The Price offered by Bidders is considered for the 1st contract year (Oct 2014 - Mar 2015).

The Price for the 2nd contract year (April 2015 - Mar 2016) and the 3rd contract year (April 2016 - Mar 2017) will be negotiated by mutual agreement. The tender norms further said, the Price for the 2nd contract year and the 3rd contract year shall be set by mutual negotiation each year no later than 2 months before commencing the next contract year.

According to KOMIPO’s tender, coal producers, marketing companies owned by coal producers or trading companies who have successfully performed coal supply contract of not less than 300,000MT to 5 (five) generation subsidiaries of KEPCO, Tai-power and Japanese Power Utilities including J-Power can participate in this Bid

A New Bidder who has no track record of supply to 5 Gencos, JPUs, Taipower and J-Power for the past 3 years is banned to participate in this Bid.

The bidders are required to submit a firm offer with the validity for a period of at least five (5) calendar days from 11:00 hrs on July 3, 2014 (Korean Standard Time).

Submissions of bids are not later than 11:00 hrs on July 3, 2014 (Korean Standard Time).



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