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Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
 VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same period last year.
Coal for both domestic consumption and export earned Vinacomin more than VND20 trillion.
Buyers were primarily China, Japan, Thailand, India, Malaysia, South Korea and Europe, said Tran Xuan Hoa, general director of the Viet Nam National Coal and Mineral Industries Group (Vinacomin).
Local consumption was 10.98 million tonnes, also equal to the same period last year.
Coal for both domestic consumption and export earned Vinacomin more than VND20 trillion (US$1.1 billion), of which VND12 trillion ($667 million) was from exports, Hoa said.
Vinacomin plans to export 3 million tonnes of coal this year. Despite its estimated 42 billion tonnes of coal reserves, the company is struggling to cater for steeply rising domestic energy demand of 17-20 per cent a year and plans to lower its export target.
Coal for China
Vinacomin was expected to export 10.5 million tonnes of coal to China for the second half of this year and the first quarter of next year, said Pham Minh Chau, head of Vinacomin's export department.
The coal utility would sell 2.5 million tonnes of fine anthracite coal to China through the Van Gia transhipment area in the northeastern province of Quang Ninh by directly signing contracts with Chinese companies. Coal could be exchanged for goods under these contracts, he said.
More than 336,000 tonnes of coal was sold through the Van Gia transhipment area from mid-May to mid-July at a price of $38 per tonne, representing 93.92 per cent of the volume signed with Chinese companies.
Of the figure, Hon Gai fine anthracite coal 11C accounted for 160,000 tonnes, the official added.
The Hon Gai fine anthracite coal 11A sold under contracts signed between the two governments was sold for $46 per tonne last June, Chau said.
Direct coal trading between Vietnamese and Chinese companies resumed last March after it was banned in May 2007 due to rampant coal smuggling in Quang Ninh.
Within a day in May 2007, 104 ships were seized in Van Gia for illegal coal transport because domestic prices were lower than international ones.
Chinese buyers were small companies in Guangxi province's Dongxing, the only port linking China and Viet Nam by both land and water, Chau said.
Now demand for coal is not as high as in early 2008 due to the global economic crisis, Chau said.
China, the world's largest coal producer and consumer, is expected to be a net coal importer for the first time in 20 years, as low prices in the international market and sluggish demand discourage exporters, according to analysts.
Several analysts have forecast that Chinese domestic coal prices, now hovering around $89 a tonne, could rise in the coming months on the back of summer demand and economic growth. China's power output rose on the year in June for the first time since last October, thanks to a pick-up in the economy and rising temperatures.
Supply has also been improving, as some of China's small coal mines are slowly returning to production, months after being shut down for strict safety inspections ordered by the central government.
Source: VietNamNet Bridge
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Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
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