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Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
 * CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not cause long-term problems
Italy's Coeclerici Coal and Fuels, one of Russia's eight largest steam coal exporters, wants to acquire a second mine in Siberia's Kuzbass region and raise exports to Asia, the company's chief executive told Reuters.
"We hope to increase tonnage. That's why we are looking for a high vols mine in Kuzbass," Giovanni Marchelli said in an emailed response to questions, referring to the amount of volatile matter found in a mine's reserves.
Coeclerici, the second-largest coal exporter at Murmansk Commercial Seaport behind Russia's SUEK, acquired its first Russian steam coal mine in April 2008.
Production at the Korchakol mine is expected to exceed 550,000 tonnes this year, up from 450,000 tonnes in 2008. Next year, output is expected to reach about 750,000 tonnes, below a target of 900,000 tonnes cited by Marchelli in January.
Historically, the company has shipped Russian coal to European markets, but Marchelli said some coal was now heading to Asia.
Major producers have increased eastbound shipments this year to take advantage of strong Asian prices, stretching Russia's limited rail capacity.
"In the last few months, we did a few cargoes and for sure it is our intention to grow in that area," Marchelli said.
SOLVING PORT PROBLEMS
Coeclerici plans to export 3 million tonnes of coal via Murmansk this year and to increase this amount in 2010.
The Murmansk port, which remains ice-free all year, is experiencing some seasonal delays associated with unloading frozen coal, though these pale in comparison with the major congestion seen in the Far East.
"There is always something unexpected. Delays could be caused by a lack of wagons, or vice-versa, by having too many wagons to be discharged," Marchelli said.
"In any case, the port always solves all problems in a very short time."
Murmansk port director Viktor Morozov said in October that his company plans to build a new terminal to double coal exports by 2015, and Marchelli said Coeclerici would take advantage of the expansion to increase exports.
He added that per-tonne prices for API2 Russian coal were now in the mid $70s, down about $10 per tonne from January, while rail freight tariffs were up about $4-$5 per tonne.
He expected coal prices to remain at this level in 2010.
The executive declined to say whether Coeclerici's Russian operations were profitable this year.
"Like everybody, we are suffering because of the market," he said. "We are not considering Russia year-by-year but on a long-term basis only ... Of course we cannot pretend to always make money."
Source: Reuters / Forexyard
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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