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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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Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
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