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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
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