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Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
 Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, slid the most in 11 weeks on speculation global prices were too high.
Export prices at the port fell $2.90, or 4.5 percent, to an average of $61.15 a metric ton in the four days to Sept. 4, according to McCloskey Group Ltd. That was the biggest weekly slide since the week ended June 19 and the lowest price in two months. No prices were collected on Aug. 31, a national holiday in the U.K. Delivered prices to northwest Europe dropped 6.3 percent, McCloskey data show.
“People would argue that prices were too high, considering where demand was against supply,” John Howland, an analyst at Petersfield, England-based McCloskey, said today by telephone. Markets around the world have “softened,” he said.
Demand for coal weakened as the worsening world economy spurred companies to cut output, reducing the need for power. The 16-nation euro-zone economy contracted in each of the three quarters through June from a year earlier. The 27-country European Union, which burns coal for about 30 percent of its energy, usually gets more of the fuel from South Africa than any other source. U.K. generators’ coal stockpiles rose to a second straight monthly record in June, government statistics show.
Indian Customers
Richards Bay exported 5.59 million tons of coal in August, 5.9 percent more than a year earlier, the terminal said in an e- mailed response to questions on Sept. 3. Indian customers have bolstered demand. The country faces a coal shortage while planning to almost double power-generation capacity in the five years to March 2012.
At its current shipment rate, Richards Bay will export 58.5 million tons of coal in 2009, compared with capacity of 76 million tons and shipments of 61.79 million tons last year. The terminal, on South Africa’s northeastern coast, is owned by the country’s largest coal exporters, including Anglo American Plc, BHP Billiton Ltd. and Xstrata Plc.
South Africa may export less than 65 million tons of coal this year, Dirk Fourie, Wood Mackenzie’s vice president of consulting for Africa, told the Coaltrans conference in Johannesburg today. National exports may rise to 100 million tons a year by 2020, Xavier Prevost, an independent coal analyst at XMP Consulting, said today in a speech in Johannesburg.
Indonesia, the biggest exporter of power coal in 2007, may produce 240 million tons this year, and output may increase by 20 million to 30 million tons annually, Purnomo Yusgiantoro, the country’s energy and mineral resources minister, told reporters in New Delhi today. About 60 percent of Indonesia’s coal production may be exported, the minister said.
Power station coal prices at the Australian port of Newcastle, a benchmark for Asia, fell 5.8 percent to $66.30 a ton in the week to Sept. 4, according to the globalCOAL NEWC Index. While Richards Bay is the world’s biggest coal-export terminal, Newcastle ships more of the fuel from two terminals.
Source: Bloomberg
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Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
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