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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, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
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