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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 $7 on every tonne of coal imported if the freight rates stay at this level,” he added.
The freight rates are not floating and an importer will have to incur the cost on an hourly basis. Supply of coal is likely to begin in 10-15 days and most of the coal will be sourced from Indonesia and South Africa.
Three companies — Adani Enterprises, Agarwal Coal and Bhatia Coal — are expected to execute the import order of 12.5 million tonnes of non-coking coal over 12 months. Bhatia Coal and Agarwal Coal will import 2.5 million tonnes and 3.75 million tones of coal, respectively, while the rest will be imported by Adani.
MMTC re-opened the import tender in mid-September after a previous bid was suspended on allegations of improper standards. MMTC had called for bids from private parties to supply coal on June 4, 2009, which it subsequently cancelled.
Source: Economic Times
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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
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 ...
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- Commonwealth Bank - Australia
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- Parliament of New Zealand
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- Australian Commodity Traders Exchange
- CNBM International Corporation - China
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- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
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- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Ministry of Mines - Canada
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