Manila (Platts)--25Feb2013/525 am EST/1025 GMT
Korea Midland Power or Komipo has awarded spot contracts to buy 270,000 mt of Russian bituminous coal to Glencore at $93/mt FOB, basis 6,080 kcal/kg net as received, an industry source said Monday. Platts reported last week that the buy tender was awarded to Glencore but price details were not available. The contract is for coal with a calorific value of 5,750 kcal/kg NAR, the source said. In the tender issued February 5, the South Korean utility had sought 260,000 mt of bituminous coal via two Capesize shipments of 130,000 mt each with the following specifications: minimum calorific value of 5,700 kcal/kg NAR, maximum total moisture of 15% as received, maximum ash of 17% air dried, maximum sulfur of 1% air dried and volatile matter of 22-36% air dried. Article continues below...Sign up to International Coal Report today. International Coal Report and its daily companion, Coal Trader International, deliver expert and respected price assessments for coal trading in the Atlantic and Pacific markets including price assessments for European CIF ARA, FOB Newcastle, Richards Bay and Indonesia.
Korea Midland Power or Komipo has awarded spot contracts to buy 270,000 mt of Russian bituminous coal to Glencore at $93/mt FOB, basis 6,080 kcal/kg net as received, an industry source said Monday. Platts reported last week that the buy tender was awarded to Glencore but price details were not available. The contract is for coal with a calorific value of 5,750 kcal/kg NAR, the source said. In the tender issued February 5, the South Korean utility had sought 260,000 mt of bituminous coal via two Capesize shipments of 130,000 mt each with the following specifications: minimum calorific value of 5,700 kcal/kg NAR, maximum total moisture of 15% as received, maximum ash of 17% air dried, maximum sulfur of 1% air dried and volatile matter of 22-36% air dried.
Article continues below...
International Coal Report and its daily companion, Coal Trader International, deliver expert and respected price assessments for coal trading in the Atlantic and Pacific markets including price assessments for European CIF ARA, FOB Newcastle, Richards Bay and Indonesia.
The tender closed on February 13. The cargoes are to load over April-June for delivery to the Boryeong power station.--Cecilia Quiambao, cecilia_quiambao@platts.com--Edited by E Shailaja Nair, shailaja_nair@platts.com
Tweet
@PlattsCoal on Twitter @PlattsPower on Twitter