South Korea’s three state-run utilities are seeking a total of 1.17 million tonnes of sub and bituminous coal via separate tenders, the utilities said on their websites.
The three utilities, Korea Southern Power Co Ltd (KOSPO), Korea Western Power Co Ltd (WP) and Korea Midland Power Co Ltd (KOMIPO), have issued spot- and long-term tenders separately to buy coal for shipping between September and the fourth quarter this year.
The tenders come against the backdrop of the country’s plan to close 10 ageing coal-fired power plans by 2025 as it seeks to reduce its dependence on dirtier fuels.
By 2022, Asia’s fourth-largest economy is still committed to constructing 20 new coal-fired plants, and plans to put 9 new plants online by the end of the year.
A source from one of the utilities said they are partly seeking to purchase coal for the new power plants.
The tenders will close on July 13 and details including bidding time are as follows:
-- KOSPO tender at 2 pm (0500 GMT) www.kospo.co.kr/english TONNES(M/T) SPECIFICATION (NCV) SHIPPING SCHEDULE 90,000 min. 4,700 kcal/kg Sept.1-10, 2016 80,000 min. 4,700 kcal/kg 2H Sept., 2016 *Note: NCV stands for Net Calorific Value. Russian coal is not allowed. -- WP tender at 11 am (0200 GMT) www.westernpower.co.kr/eng TONNES(M/T) SPECIFICATION (NCV) SHIPPING SCHEDULE 110,000 min. 4,700 kcal/kg 2H Sept., 2016 110,000 min. 4,700 kcal/kg Sept.25-Oct.15,2016 -- KOMIPO tender at 2 pm (0500 GMT) www.komipo.co.kr/kom_eng TONNES(M/T) SPECIFICATION (NCV) SHIPPING SCHEDULE 125,000 X 2 min. 5,700 kcal/kg Sept - Oct, 2016 125,000 X 2 min. 5,700 kcal/kg Q4 2016 70,000 X 4 min. 4,600 kcal/kg Sept - Q4, 2016 * Note : The utility is seeking coal products via long-term tenders.
Source: ReutersPrevious Next