Pakistan to buy 4 million tons of coal in 2010 – Industry Sources
Pakistan’s cement industry will import just over 4 million tonnes of steam coal in 2010 from South Africa and Indonesia, up from around 3.7-3.8 million last year, Pakistani and Indian coal trading sources said.
Credit difficulties made coal imports extremely difficult in 2008
because most suppliers were unable to accept letters of credit issued by
Pakistan banks, but business has returned to normal, the sources said.“Pakistan’s
cement sector is strong – there is very good export demand from Abu
Dhabi, Sri Lanka, Iraq, Madagascar and other countries and also inland,”
said an official at Seatrade, one of Pakistan’s biggest coal traders.Iraq
is one of the world’s biggest cement buyers at present as the country
undergoes a massive reconstruction programme, coal suppliers and
shipping sources said.Thermal coal is used partly as fuel partly as
raw material to bake with lime in a kiln to make cement.Steady
Pakistani cement production will mean a steady flow of coal will be
needed, Indian and Pakistani trade suppliers said.Pakistani cement
companies such as Maple Leaf and Lucky Cement are buying equal tonnages
of South African and Indonesian coal and paying up to $107.00 a tonne
CIF for it, the trade suppliers said – a few dollars higher than their
Indian cement making counterparts.Pakistan produces about 23 million
tonnes a year of cement, most of which is consumed domestically.Roughly
6-7 million tonnes of cement is likely to be exported in 2010, the
Seatrade official said.Source: Reuters
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With low cement demand and a slump in prices owing to a price war between cement firms, the majority of companies in 2009 were unable to achieve a turnaround despite a fall in coal prices from the historic high of $180 per ton to $80 per ton. Cement prices in
The country’s coal production grew by about 8 per cent to 492.95 Million tonnes (Mt) in 2008-09 from 457.08 MT in the same period previous fiscal as Coal India Ltd has increased its output to meet the growing demand of user industries like power, steel and cement.
YTL Cement Singapore’s bid to purchase Jurong Cement Bulk Terminal at Singapore Port has been rejected by Holcim Investments Singapore (HIS), the majority shareholder in Jurong Cement Limited (JCL) which currently runs the cement bulk terminal. Read at Holcim Investments rejects offer to buy Jurong Cement Bulk Terminal
YTL Cement Singapore’s bid to purchase Jurong Cement Bulk Terminal at Singapore Port has been rejected by Holcim Investments Singapore (HIS), the majority shareholder in Jurong Cement Limited (JCL) which currently runs the cement bulk terminal. Read at Holcim Investments rejects offer to buy Jurong Cement Bulk Terminal
Pakistan has sought direct shipping links with Bangladesh to boost bilateral trade.
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 economy expands at a fast clip. New steel and cement industries coming up in India are also hungry for the ‘black gold’, pushing up its imports.Here
Xstrata Plc, the world’s largest exporter of power-station coal, said its coal unit has asked suppliers to operations in Queensland, Australia, to cut prices by 20 percent if possible. The majority of those contacted are long-term suppliers whose contracts will remain in place, Xstrata Coal spokesman James Rickards wrote in
State-owned Coal India Ltd., or CIL, is targeting 461.5 million tons of coal production during the next fiscal, compared to the envisaged production of 435 million tons in the current fiscal, reports said quoting a company official. It would enter into an agreement with the Coal Ministry in this regard
India is one of the world’s fastest-growing coal importers and this year accounted for more than a third of South Africa’s exports.? India’s booming demand for coal to use in power generation and cement and sponge iron production cannot be met by domestic supply.?Its total thermal coal imports are
India’s Gujarat Narmada Valley Fertilizers Ltd (GNFC) has delayed its 260,000 tonne coal buying tender by a month from end-August to end-September, said Indian traders participating in the tender. GNFC is seeking 130,000 tonnes of Indonesian coal plus a further optional 130,000 tonnes for delivery during the balance of 2009.GNFC is
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