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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
 * Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal price benchmark for South African cargoes FOB Richards Bay has been unjustifiably high, leading to big price exposure for Indian traders buying against the index, K.K. Gupta, vice president of traders Swiss Singapore said on Thursday.
On Wednesday, a January and a February loading South African cargo traded at 12-month highs on globalCOAL, at $69.00 and $70.35 a tonne FOB Richards Bay respectively.
But trades at around those levels, reported by brokers and on trading platform globalCOAL, do not reflect the majority of business, Gupta said.
"There have been many trades done at $61-$63 a tonne FOB Richards Bay recently which have not been considered. Index prices of $66.00 cannot be justified," Gupta told Reuters.
Swiss Singapore from its Dubai office is one of the most active traders supplying South African and Indonesian coal to the Indian market, handling several million tonnes a year.
India has been the largest single buyer of South African coal this year, taking 30-35 percent of monthly exports out of a total of 60 million tonnes annually.
Indian trading companies have during the past year switched much of their South African coal buying to contracts linked to the API4 physical index from fixed-price deals but the volatility in API4 prices has squeezed their margins.
Many Indian traders have contracts with end-users at fixed CIF or CFR prices and are supplying coal bought at floating prices, leaving them exposed to huge price risk and losses if they have not hedged - and few have hedged coal or freight.
DISPUTE
In April Bhatia Coal India terminated a coal supply contract with traders Vitol and instigated arbitration in order to avoid loading South African cargoes at locked-in prices of $120 a tonne after the market fell by 50 percent
Vitol and Bhatia are still in dispute over $50 million as a result.
Vitol coal risk portfolio manager Peter Aitken said in October that 2008 saw a number of buyer defaults in coal, centred in the physical markets.
Price risk mitigation must be tackled urgently to avoid catastrophic situations, Aitken said
"The Indian subcontinent is lifting a good amount of quantity from South Africa and lately many traders have started dealing on an index basis," he said.
Richards Bay prices fell last August from a historic high of $150 a tonne to around $60 in January. From January-September prices remained in a range of about $58.00-63.00 but during the past month prices have risen close to $70.00.
"We would like to register our resistance regarding the API4 price published in the recent publications. In our opinion the price is quite high and it is absolutely not in line with the recent trades which have taken place for RB1 coal on FOB RBCT basis," Gupta said.
"The detail of the last four weeks publications are as under - First week of November $66.64, 5th week of October $65.61, 4th week of October $66.06, 3rd week of October $64.05, 2nd week of October $63.75," he said.
Swiss Singapore's own deals during the past 15 days have all been in the range $61.00-$63.00, he said.
The deals are as follows:
* First half November loading South African cargo bought at $61.50 a tonne FOB Richards Bay.
* Second half November loading cargo bought at $62.25 a tonne FOB.
* Prompt 75,000 tonne cargo sold at $62.80 a tonne FOB.
* Prompt cargo sold at $63.30 a tonne FOB.
"There are a number of transactions which have taken place in India and the Chinese markets for South African coal and the above reflects the true value of the cargoes," he said.
Source: Reuters
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Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 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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- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
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