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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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Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Chettinad Cement Corporation Ltd - India
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- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
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- TeaM Sual Corporation - Philippines
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- Indian Energy Exchange, India
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- OPG Power Generation Pvt Ltd - India
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- MS Steel International - UAE
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
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- Directorate Of Revenue Intelligence - India
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- Parliament of New Zealand
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- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
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- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
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- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
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- Larsen & Toubro Limited - India
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- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
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- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
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- Goldman Sachs - Singapore
- Anglo American - United Kingdom
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- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Central Electricity Authority - India
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- Heidelberg Cement - Germany
- Independent Power Producers Association of India
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- Coal and Oil Company - UAE
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- Pipit Mutiara Jaya. PT, Indonesia
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- Interocean Group of Companies - India
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- Pendopo Energi Batubara - Indonesia
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- Sarangani Energy Corporation, Philippines
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- Eastern Coal Council - USA
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- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
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- Renaissance Capital - South Africa
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- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
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- Planning Commission, India
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- AsiaOL BioFuels Corp., Philippines
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- McConnell Dowell - Australia
- Australian Coal Association
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
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