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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 $7 on every tonne of coal imported if the freight rates stay at this level,” he added.
The freight rates are not floating and an importer will have to incur the cost on an hourly basis. Supply of coal is likely to begin in 10-15 days and most of the coal will be sourced from Indonesia and South Africa.
Three companies — Adani Enterprises, Agarwal Coal and Bhatia Coal — are expected to execute the import order of 12.5 million tonnes of non-coking coal over 12 months. Bhatia Coal and Agarwal Coal will import 2.5 million tonnes and 3.75 million tones of coal, respectively, while the rest will be imported by Adani.
MMTC re-opened the import tender in mid-September after a previous bid was suspended on allegations of improper standards. MMTC had called for bids from private parties to supply coal on June 4, 2009, which it subsequently cancelled.
Source: Economic Times
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
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- Central Electricity Authority - India
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- Planning Commission, India
- Australian Coal Association
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- Standard Chartered Bank - UAE
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- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
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- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
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- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
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- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
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- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
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- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
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- Binh Thuan Hamico - Vietnam
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- White Energy Company Limited
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- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
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- IEA Clean Coal Centre - UK
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- Eastern Coal Council - USA
- The University of Queensland
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- Pendopo Energi Batubara - Indonesia
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- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
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- MS Steel International - UAE
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
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- Indian Oil Corporation Limited
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