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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, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
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- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
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- Globalindo Alam Lestari - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Manunggal Multi Energi - Indonesia
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- The University of Queensland
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- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
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- Eastern Coal Council - USA
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- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
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- Singapore Mercantile Exchange
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- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
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- Ministry of Finance - Indonesia
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- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
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- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
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- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
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- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
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- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
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- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
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- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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