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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 $63.30 a tonne FOB.
"There are a number of transactions which have taken place in India and the Chinese markets for South African coal and the above reflects the true value of the cargoes," he said.
Source: Reuters
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Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
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- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
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