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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, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
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- Rio Tinto Coal - Australia
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- Siam City Cement - Thailand
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- Georgia Ports Authority, United States
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Simpson Spence & Young - Indonesia
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- VISA Power Limited - India
- Australian Commodity Traders Exchange
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- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
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- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
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- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
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- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
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- Videocon Industries ltd - India
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- Eastern Coal Council - USA
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- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
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- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Coal and Oil Company - UAE
- The University of Queensland
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- Australian Coal Association
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- Singapore Mercantile Exchange
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- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
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- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
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- Toyota Tsusho Corporation, Japan
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- AsiaOL BioFuels Corp., Philippines
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- Holcim Trading Pte Ltd - Singapore
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- Romanian Commodities Exchange
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- Billiton Holdings Pty Ltd - Australia
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- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
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- Electricity Authority, New Zealand
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- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
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