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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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Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
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- GMR Energy Limited - India
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- India Bulls Power Limited - India
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- Kobexindo Tractors - Indoneisa
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- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
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- Anglo American - United Kingdom
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- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
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- Eastern Coal Council - USA
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- CNBM International Corporation - China
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- Global Coal Blending Company Limited - Australia
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- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
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- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
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- VISA Power Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
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- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
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- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Ministry of Finance - Indonesia
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- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
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- GN Power Mariveles Coal Plant, Philippines
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- Semirara Mining Corp, Philippines
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- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
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- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
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- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
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- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
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