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Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
 While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants, private companies who are importing coal for NTPC, may end up taking a hit due to rising freight rates.
Apart from the price of non-coking coal, factors such as freight rates and cost of fuel to sail a vessel, are the vital aspects that determine the import bill of a firm. So far, rates of coal, freight and fuel quoted by importing firms have risen sharply since September 2009, when MMTC, the state-owned trading company in-charge of sourcing coal for NTPC, revived the tender.
However, freight rates have risen the most in this period. While the price of non-coking coal from Australia’s Newcastle Port for the December 2009 contract - a benchmark index for Asia - has gone up to about $80 per tonne, from $70 in September, freight rates of handysize vessels have gone up by at least 70% in the said period. “As per the tender, both the price of coal and fuel are floating,” said a senior executive of MMTC.
“The fuel price is indexed to the Singapore bunker price (a marine fuel and shipping price index). So any hike in the rates will negate the losses as everything is covered,” the executive added.
However, while the importing firms may not suffer losses on account of a rise in prices of coal and oil, the increase in freight rates will affect them. “The freight rates we quoted was in the range of $14,000-15,000 per day in September. Now it is $24,000 per day,” said an industry executive.
“We will suffer a loss of at least $7 on every tonne of coal imported if the freight rates stay at this level,” he added.
The freight rates are not floating and an importer will have to incur the cost on an hourly basis. Supply of coal is likely to begin in 10-15 days and most of the coal will be sourced from Indonesia and South Africa.
Three companies — Adani Enterprises, Agarwal Coal and Bhatia Coal — are expected to execute the import order of 12.5 million tonnes of non-coking coal over 12 months. Bhatia Coal and Agarwal Coal will import 2.5 million tonnes and 3.75 million tones of coal, respectively, while the rest will be imported by Adani.
MMTC re-opened the import tender in mid-September after a previous bid was suspended on allegations of improper standards. MMTC had called for bids from private parties to supply coal on June 4, 2009, which it subsequently cancelled.
Source: Economic Times
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Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
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- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
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- Renaissance Capital - South Africa
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- Aboitiz Power Corporation - Philippines
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- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
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- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
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- Anglo American - United Kingdom
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- The State Trading Corporation of India Ltd
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- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
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- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- Indian Oil Corporation Limited
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- Coal and Oil Company - UAE
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- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- The University of Queensland
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
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- Ministry of Transport, Egypt
- Mercator Lines Limited - India
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- Latin American Coal - Colombia
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- Orica Australia Pty. Ltd.
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- Sindya Power Generating Company Private Ltd
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- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
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- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Australian Coal Association
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- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
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- Parliament of New Zealand
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- Samtan Co., Ltd - South Korea
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- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
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- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
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