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Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
 * China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may threaten S.Korean supplies
Reuters the leading world's news agency reported that, Indonesian miners have already sold about 20 million tonnes of thermal coal to Chinese buyers for delivery in 2010, and total exports to China could far exceed the volume that will be recorded this year, producers said on Wednesday.
Continued strength in Chinese imports, coupled with an expected rise in Indian demand, could mean that South Korean utilities could be caught short of supplies if they continued to avoid annual contracts and instead focus on spot tenders to secure their fuel needs.
Sources from the top five coal producers in Indonesia, such as Bumi Resources, PT Adaro Energy and PT Kideco, said the total volume of thermal coal sold to China for 2010 delivery has reached at least 15 million tonnes -- on par with the total volume China has imported from Indonesia from January to September this year.
"Chinese buyers have been very eager to sign 2010 term supply contracts. We've done some deals and the prices they've agreed to are pretty good," said a source from one of the largest Indonesian coal firms.
The firm's total thermal coal sales to China for 2010 have so far reached 7 million tonnes, with bituminous coal prices averaging at $66 a tonne FOB based on 5,500 kcal/kg (NAR) and sub-bituminous coal inked at about $56 basis 5,000 kcal/kg (NAR).
He spoke on condition of annonymity because he was not authorised to speak to the media because of the confidential nature of the deals.
Another large producer said the firm had agreed to contract 4 million tonnes of sub-bituminous coal to China for 2010, up from the 3.5 million tonnes it will ship in 2009, but prices have not yet been agreed.
"Chinese buyers are looking to lock in more tonnage but quite frankly, we've already sold out for our 2010 supplies. We don't have any more coal to sell," he said.
Thanks to Chinese demand, coal prices have rebounded 33 percent from a near two-year low of around $58 a tonne struck in late March to above $77 this week, based on globalCOAL's Newcastle index.
S.KOREAN UTILITIES CAUGHT SHORT?
In an effort to exploit the sharp swing in coal prices this year, South Korean utilities have avoided annual contracts with most Indonesian and Australian producers and instead launched a raft of spot tenders to secure supplies when prices were low.
But some producers said that procurement strategy, which has served them well this year, could backfire in 2010.
Strength in Chinese imports, growing Indian demand, along with a forecast rebound in domestic coal needs, could combine to soak up a large proportion of Indonesian coal, producers and traders said.
"There's a chance that the South Korean utilities could misread the market and be caught short of supplies if they keep thinking that they can bank on spot tenders," said the first producer source. "They could turn to Australia, but that will mean higher prices because of freight rates."
Indonesia, which is expected to produce 250 million tonnes of coal in 2010, plans to cap coal exports at 150 million tonnes by as early as next year, to ensure domestic supply, an official said on Wednesday, in a move that could eventually curb supply from the world's top thermal coal exporter.
Source: Reuters
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Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
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- Parry Sugars Refinery, India
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- Power Finance Corporation Ltd., India
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- Thiess Contractors Indonesia
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- Electricity Authority, New Zealand
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- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Interocean Group of Companies - India
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- Standard Chartered Bank - UAE
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- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
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- Deloitte Consulting - India
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- Minerals Council of Australia
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- Essar Steel Hazira Ltd - India
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- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Larsen & Toubro Limited - India
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- Renaissance Capital - South Africa
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- Energy Link Ltd, New Zealand
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- Antam Resourcindo - Indonesia
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- Planning Commission, India
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- Posco Energy - South Korea
- London Commodity Brokers - England
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- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
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- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
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- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
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- Xindia Steels Limited - India
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- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
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- IEA Clean Coal Centre - UK
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- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
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- Manunggal Multi Energi - Indonesia
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- Coal and Oil Company - UAE
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- Romanian Commodities Exchange
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- Rashtriya Ispat Nigam Limited - India
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- Cigading International Bulk Terminal - Indonesia
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- Bulk Trading Sa - Switzerland
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- Petron Corporation, Philippines
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- Kohat Cement Company Ltd. - Pakistan
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- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
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- Madhucon Powers Ltd - India
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- Alfred C Toepfer International GmbH - Germany
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- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
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