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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-$5 per tonne.
He expected coal prices to remain at this level in 2010.
The executive declined to say whether Coeclerici's Russian operations were profitable this year.
"Like everybody, we are suffering because of the market," he said. "We are not considering Russia year-by-year but on a long-term basis only ... Of course we cannot pretend to always make money."
Source: Reuters / Forexyard
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
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- Merrill Lynch Commodities Europe
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- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- The University of Queensland
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- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
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- Eastern Coal Council - USA
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- Timah Investasi Mineral - Indoneisa
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- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
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- Mintek Dendrill Indonesia
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- Sical Logistics Limited - India
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- Trasteel International SA, Italy
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- Australian Commodity Traders Exchange
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- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
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- Parliament of New Zealand
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- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
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- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
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- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
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- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
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- McConnell Dowell - Australia
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- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Kideco Jaya Agung - Indonesia
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- Kepco SPC Power Corporation, Philippines
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- Pendopo Energi Batubara - Indonesia
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- Rio Tinto Coal - Australia
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- Minerals Council of Australia
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- Binh Thuan Hamico - Vietnam
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- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
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- Antam Resourcindo - Indonesia
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- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Barasentosa Lestari - Indonesia
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- Simpson Spence & Young - Indonesia
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- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- White Energy Company Limited
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
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