Monday, 13 Feb 2012
An official at state-run Korea Electric Power Corp said that South Korea's five state run power utilities will need 73 million tonnes of steaming coal this year, of which 52% has already been secured. KEPCO did not provide figures for last year's consumption.
A utility source said demand last year had reached at a similar level, adding that earlier projections had put demand this year at up to 80 million tonnes, but a shift to high calorific coal after a nationwide power shortage late last year had reduced the volume of demand.
KEPCO and other utility officials said procurements this year had been made at an average of about USD 115 per tonne on a cost-and-freight basis, adding that most were made through long-term contracts rather than spot purchases.
KEPCO fully owns five utilities Korea East West Power Co, Korea Southern Power Co, Korea South East Power Co, Korea Western Power Co and Korea Midland Power Co.
(Sourced from Reuters)
Showing posts with label coal demand. Show all posts
Showing posts with label coal demand. Show all posts
Monday, February 13, 2012
Monday, January 30, 2012
Europe ARA thermal coal trades at $105/mt for Mar-delivery
Monday, January 30, 2012, Rabi-ul-Awal 06, 1433
London (Platts)- The European-delivered CIF ARA thermal coal physical market saw a March-delivery cargo trade at $105/mt first thing Monday morning, 50 cents higher than Platts Friday 90-day assessed price, although on par with the March prompt-month assessment.
The deal for 50,000 mt of generic-origin material for delivery into Rotterdam went through via the globalCOAL screen with exchange of futures for physical terms attached. It was said to have taken place between two northwestern European utilities.
The CIF ARA market has been quiet in recent weeks, with ample stocks in ARA limiting coal demand. Physical levels have been mostly tracking the moves of the financial derivatives market, which in turn have been supported by strong macroeconomics, a higher energy complex, imminent colder weather and short-covering.
(sourced Platts)
London (Platts)- The European-delivered CIF ARA thermal coal physical market saw a March-delivery cargo trade at $105/mt first thing Monday morning, 50 cents higher than Platts Friday 90-day assessed price, although on par with the March prompt-month assessment.
The deal for 50,000 mt of generic-origin material for delivery into Rotterdam went through via the globalCOAL screen with exchange of futures for physical terms attached. It was said to have taken place between two northwestern European utilities.
The CIF ARA market has been quiet in recent weeks, with ample stocks in ARA limiting coal demand. Physical levels have been mostly tracking the moves of the financial derivatives market, which in turn have been supported by strong macroeconomics, a higher energy complex, imminent colder weather and short-covering.
(sourced Platts)
Saturday, January 28, 2012
Dollar fall boosts Euro coal prompt prices
Saturday, 28 Jan 2012
Reuters reported that US dollar fell to its lowest for almost two months on Thursday, giving a sharp boost to coal prices which have sagged this month due to weak fundamentals globally.
Two March loading South African cargoes traded early in the day at USD 108.50 and USD 108.75, up over USD 3.00 from Wednesday, bought by banks and traders, sold by a large, international trading house.
Coal swaps rallied on Thursday, bolstered by European utilities hedging dark spreads (the profit margin from using coal to generate power) and oil's rise, despite the lack of physical buying and high stockpile levels.
End users in Europe and Asia remained noticeable for the absence from the market.
Traders said that whether China resumes large scale spot buying after the New Year holidays is absolutely critical for coal price direction, regardless of the gyrations of the swaps market.
China overtook Japan as the world's largest coal importer last year after a surge in imports in the last quarter to a total of 182.4 million tonnes, nearly 11 percent up from the previous year, much of it bought on a spot basis.
One European trader said that "The dollar got hammered overnight and that's pulled commodities up including coal, but the swaps, particularly the Calendar years, have risen even more.”
(Sourced from Thomson Reuters)
Reuters reported that US dollar fell to its lowest for almost two months on Thursday, giving a sharp boost to coal prices which have sagged this month due to weak fundamentals globally.
Two March loading South African cargoes traded early in the day at USD 108.50 and USD 108.75, up over USD 3.00 from Wednesday, bought by banks and traders, sold by a large, international trading house.
Coal swaps rallied on Thursday, bolstered by European utilities hedging dark spreads (the profit margin from using coal to generate power) and oil's rise, despite the lack of physical buying and high stockpile levels.
End users in Europe and Asia remained noticeable for the absence from the market.
Traders said that whether China resumes large scale spot buying after the New Year holidays is absolutely critical for coal price direction, regardless of the gyrations of the swaps market.
China overtook Japan as the world's largest coal importer last year after a surge in imports in the last quarter to a total of 182.4 million tonnes, nearly 11 percent up from the previous year, much of it bought on a spot basis.
One European trader said that "The dollar got hammered overnight and that's pulled commodities up including coal, but the swaps, particularly the Calendar years, have risen even more.”
(Sourced from Thomson Reuters)
Wednesday, January 25, 2012
Commissioner increases ownership in Adaro
Wed, Jan25, 2011
A commissioner at PT Adaro Energy Tbk (ADRO), Indonesia’s second-largest coal producer, has purchased 300,000 shares of the company at Rp 1,830 per share to increase his ownership of the growing company.
Malaysian national Lim Soon Huat, who has been a commissioner at Adaro since October 2008, made the deal on Friday, Jan. 20, when the firm’s stock price closed at Rp 1,820 a share, according to a file submitted to the Indonesia Stock Exchange (IDX).
The stock purchase was done for investment, the file said, without disclosing the total shares Soon Huat owned. Soon Huat has over 15 years experience in the financial industry and corporate management in Singapore, Thailand, Malaysia, Hong Kong, China and Indonesia.
Major international ratings agency Fitch Ratings recently said it might upgrade Adaro’s credit rating to investment grade from the current BB+ with stable outlook, on the company’s strong financial fundamentals amid rising demand for coal.
Adaro’s shares traded at Rp 1,840 at 10:23 a.m. on Wednesday, gaining 0.55 percent from the previous day’s close when the broader stock index was in the red.
sourced: The Jakarta Post
A commissioner at PT Adaro Energy Tbk (ADRO), Indonesia’s second-largest coal producer, has purchased 300,000 shares of the company at Rp 1,830 per share to increase his ownership of the growing company.
Malaysian national Lim Soon Huat, who has been a commissioner at Adaro since October 2008, made the deal on Friday, Jan. 20, when the firm’s stock price closed at Rp 1,820 a share, according to a file submitted to the Indonesia Stock Exchange (IDX).
The stock purchase was done for investment, the file said, without disclosing the total shares Soon Huat owned. Soon Huat has over 15 years experience in the financial industry and corporate management in Singapore, Thailand, Malaysia, Hong Kong, China and Indonesia.
Major international ratings agency Fitch Ratings recently said it might upgrade Adaro’s credit rating to investment grade from the current BB+ with stable outlook, on the company’s strong financial fundamentals amid rising demand for coal.
Adaro’s shares traded at Rp 1,840 at 10:23 a.m. on Wednesday, gaining 0.55 percent from the previous day’s close when the broader stock index was in the red.
sourced: The Jakarta Post
Thursday, November 3, 2011
India's Aditya Birla mulls bid for Australia's New Hope-sources
Thu Nov 3, 2011
* Group expects to appoint adviser for bidding soon-sources
* New Hope has market value of $5.2 bln
* Birla group needs thermal coal for aluminium, cement units
By Sumeet Chatterjee
MUMBAI (Reuters) - India's diversified Aditya Birla Group is considering bidding for Australia's New Hope Corp , a $5 billion coal miner that put itself up for auction last month, sources with direct knowledge said on Wednesday.
The group, a telecoms-to-cement conglomerate, requires thermal coal for group companies Hindalco Industries , India's top aluminium producer, and UltraTech Cement , the country's largest cement producer.
The group is expected to appoint an adviser for the bidding process soon, two sources with direct knowledge of the situation told Reuters. They declined to be named as the information is not public yet.
Tuhin Mukherjee, managing director of Aditya Birla Natural Resources, declined to comment.
New Hope is considering a break-up and asset sales amid interest from global resource companies, sources said last month.
Among those interested in the Queensland-based thermal coal producer are India's No.3 steelmaker, JSW Steel , China's Yanzhou Coal Mining Co Ltd and London-listed Xstrata , the sources had said.
Aditya Birla Group, a $35 billion conglomerate that gets 60 percent of its revenue from its overseas operations, is unlikely to face a problem in financing a possible deal, the sources said .
New Hope is among the last few major coal companies left in resource-rich Australia after a flurry of recent takeovers consolidated the industry.
The Australian miner's New Acland mine, west of Brisbane, produces thermal coal used in power plants. New Hope sells about 65 percent of its coal overseas and the remaining to the domestic market.
New Hope's wholly owned port facility makes it attractive to potential suitors, but the sale process is complicated by its ownership structure and the high price tag, bankers and analysts had said last month.
India holds 10 percent of the world's coal reserves but local supplies are falling short of demand as the country builds more power plants, and as domestic coal projects run into environmental and land acquisition delays.
Indian energy firms have been scouting for coal assets overseas to feed power plants at home, and have been raising funds for potential overseas acquisitions and expanding facilities.
The energy-hungry nation aims to halve a near-14 percent peak-hour power deficit within two years .
India's GVK Power & Infrastructure said in September it would pay $1.26 billion for a majority stake in three Australian coal mines and a port and rail project owned by heiress Gina Rinehart's Hancock Group.
In August, GMR Infrastructure , with interests in airports, energy and highways, said its unit has entered into a pact to acquire a 30 percent stake in Indonesia's Golden Energy Mines for $450 million to $550 million in cash.
(sourced Reuters)
* Group expects to appoint adviser for bidding soon-sources
* New Hope has market value of $5.2 bln
* Birla group needs thermal coal for aluminium, cement units
By Sumeet Chatterjee
MUMBAI (Reuters) - India's diversified Aditya Birla Group is considering bidding for Australia's New Hope Corp , a $5 billion coal miner that put itself up for auction last month, sources with direct knowledge said on Wednesday.
The group, a telecoms-to-cement conglomerate, requires thermal coal for group companies Hindalco Industries , India's top aluminium producer, and UltraTech Cement , the country's largest cement producer.
The group is expected to appoint an adviser for the bidding process soon, two sources with direct knowledge of the situation told Reuters. They declined to be named as the information is not public yet.
Tuhin Mukherjee, managing director of Aditya Birla Natural Resources, declined to comment.
New Hope is considering a break-up and asset sales amid interest from global resource companies, sources said last month.
Among those interested in the Queensland-based thermal coal producer are India's No.3 steelmaker, JSW Steel , China's Yanzhou Coal Mining Co Ltd and London-listed Xstrata , the sources had said.
Aditya Birla Group, a $35 billion conglomerate that gets 60 percent of its revenue from its overseas operations, is unlikely to face a problem in financing a possible deal, the sources said .
New Hope is among the last few major coal companies left in resource-rich Australia after a flurry of recent takeovers consolidated the industry.
The Australian miner's New Acland mine, west of Brisbane, produces thermal coal used in power plants. New Hope sells about 65 percent of its coal overseas and the remaining to the domestic market.
New Hope's wholly owned port facility makes it attractive to potential suitors, but the sale process is complicated by its ownership structure and the high price tag, bankers and analysts had said last month.
India holds 10 percent of the world's coal reserves but local supplies are falling short of demand as the country builds more power plants, and as domestic coal projects run into environmental and land acquisition delays.
Indian energy firms have been scouting for coal assets overseas to feed power plants at home, and have been raising funds for potential overseas acquisitions and expanding facilities.
The energy-hungry nation aims to halve a near-14 percent peak-hour power deficit within two years .
India's GVK Power & Infrastructure said in September it would pay $1.26 billion for a majority stake in three Australian coal mines and a port and rail project owned by heiress Gina Rinehart's Hancock Group.
In August, GMR Infrastructure , with interests in airports, energy and highways, said its unit has entered into a pact to acquire a 30 percent stake in Indonesia's Golden Energy Mines for $450 million to $550 million in cash.
(sourced Reuters)
Friday, September 16, 2011
Coal stockpiles at Qinhuangdao Port decrease significantly
Friday, 16 Sep 2011
Coal shipment at Qinhuangdao port, China top coal loading port increased by 9.27% or 458,000 tonnes from a week earlier to 5.508 million tonnes in the week from September 5 to September 11 averaging 786,900 tonnes per day.
Coal handling at the port has witnessed a sharp rise of nearly 1.76 million tonnes within five weeks on the back of stronger demand before overhaul of Daqin railway starts.
In the week, coal haulage to the port via railway registered 4.904 million tonnes, a drop of 5.02% or 259,000 tonnes from the prior week, averaging 700,600 tonnes per day. This marks the end of three consecutive weeks’ increase in coal deliveries to the port.
Up to September 10, coal stockpiles at the port fell by more than 8% or 604,000 tonnes to 6.676 million tonnes. Thermal coal prices at major ports around Bohai Sea headed up after 9 consecutive weeks' fall. The latest Bohai-Rim Steam-Coal Price Index, or BSPI, indicates that the price of thermal coal with calorific value of 5500 Kcal/kg averaged at CNY 826 per tonne up 0.12% or CNY 1 per tonne from a week earlier.
(source steelhome)
Coal shipment at Qinhuangdao port, China top coal loading port increased by 9.27% or 458,000 tonnes from a week earlier to 5.508 million tonnes in the week from September 5 to September 11 averaging 786,900 tonnes per day.
Coal handling at the port has witnessed a sharp rise of nearly 1.76 million tonnes within five weeks on the back of stronger demand before overhaul of Daqin railway starts.
In the week, coal haulage to the port via railway registered 4.904 million tonnes, a drop of 5.02% or 259,000 tonnes from the prior week, averaging 700,600 tonnes per day. This marks the end of three consecutive weeks’ increase in coal deliveries to the port.
Up to September 10, coal stockpiles at the port fell by more than 8% or 604,000 tonnes to 6.676 million tonnes. Thermal coal prices at major ports around Bohai Sea headed up after 9 consecutive weeks' fall. The latest Bohai-Rim Steam-Coal Price Index, or BSPI, indicates that the price of thermal coal with calorific value of 5500 Kcal/kg averaged at CNY 826 per tonne up 0.12% or CNY 1 per tonne from a week earlier.
(source steelhome)
Saturday, August 13, 2011
US coal use off 3pct from previous week - Genscape
Aug13,2011
Genscape said that US coal consumption was off 3% in the past week, as widespread easing of summer heat and fuel-switching by power providers cut coal demand.
The power industry data monitor said that use of coal for the week ended Thursday fell 2% from the same week in 2010.
WSI Corp weather service said that "A series of cold fronts marching across the northern tier of the nation finally brought some relief from the heat across the north central and Northeasteren sectors of the nation.”
(Sourced from Reuters)
Genscape said that US coal consumption was off 3% in the past week, as widespread easing of summer heat and fuel-switching by power providers cut coal demand.
The power industry data monitor said that use of coal for the week ended Thursday fell 2% from the same week in 2010.
WSI Corp weather service said that "A series of cold fronts marching across the northern tier of the nation finally brought some relief from the heat across the north central and Northeasteren sectors of the nation.”
(Sourced from Reuters)
Friday, February 25, 2011
Kinder Morgan Strikes 15-Year Coal Handling Deal With Massey
Feb24,2011, 12:24 P.M.ETBy Matt Jarzemsky, Dow Jones Newswires
Kinder Morgan Energy Partners LP (KMP) has agreed to handle up to 6 million tons of Massey Energy Co. (MEE) coal a year through a Louisiana terminal.
Kinder Morgan Chief Executive Richard Kinder said in January that the company was seeking to expand storage capacity at its terminals business to take advantage of increasing demand for coal exports. U.S. coal producers are particularly well-positioned to take advantage of brisk Asian demand for the high-grade coal used in steelmaking, as Australian flooding has disrupted global supplies.
Kinder Morgan anticipates handling a minimum 4 million tons annually over the course of the 15-year deal. The coal will be offloaded at its IMT terminal in Myrtle Grove before being stored and loaded onto ocean vessels. It plans to spend $70 million expanding the facility.
Massey has struggled with losses since the disaster last April that killed 29 workers at its Upper Big Branch mine, suffering production shortfalls, higher costs and feuds with regulators. Late last month, the company agreed to sell itself to Alpha Natural Resources Inc. (ANR) in a cash-and-stock deal valued at roughly $7 billion.
Kinder Morgan, meanwhile, has reported improved results of late. Tuesday, Moody's Investors Service raised its outlook on the company, which is best known for its pipeline operations.
Kinder Morgan shares recently traded at $72.68, up 1.1%, while Massey was up 6 cents at $62.70.
Kinder Morgan Chief Executive Richard Kinder said in January that the company was seeking to expand storage capacity at its terminals business to take advantage of increasing demand for coal exports. U.S. coal producers are particularly well-positioned to take advantage of brisk Asian demand for the high-grade coal used in steelmaking, as Australian flooding has disrupted global supplies.
Kinder Morgan anticipates handling a minimum 4 million tons annually over the course of the 15-year deal. The coal will be offloaded at its IMT terminal in Myrtle Grove before being stored and loaded onto ocean vessels. It plans to spend $70 million expanding the facility.
Massey has struggled with losses since the disaster last April that killed 29 workers at its Upper Big Branch mine, suffering production shortfalls, higher costs and feuds with regulators. Late last month, the company agreed to sell itself to Alpha Natural Resources Inc. (ANR) in a cash-and-stock deal valued at roughly $7 billion.
Kinder Morgan, meanwhile, has reported improved results of late. Tuesday, Moody's Investors Service raised its outlook on the company, which is best known for its pipeline operations.
Kinder Morgan shares recently traded at $72.68, up 1.1%, while Massey was up 6 cents at $62.70.
Tags:high grade coking coal, steelmaking, steel mills, raw material, Alpha Natural Resources, cash-and-stock deal,
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