08-07-2016

S.Korea’s state-run utilities seek 1.17 mln coal for Sept-Q4

coal

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: Reuters 

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