China's top coal producer China Shenhua Energy Co Ltd has sold a February-loading thermal coal shipment to a South Korean buyer at $142 per tonne on a free-on-board (FOB) basis, two sources with knowledge of the deal said on Jan 10.
The deal, sealed mid-last week, was for coal with a heating value of 5,800 kcal/kg, said the sources, who asked not to be identified because it was a commercially sensitive issue.
The sale comes as a devastating flood hit Australia's eastern Queensland state, knocking out an estimated 3-4.5 million tonnes of global thermal coal exports and prompting many South Korean and Japanese utilities to scour the market for alternative supplies.
News via Reuters, Jan10 ,2011
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