SEOUL, Oct 12 (Reuters) - Korea Midland Power Co Ltd (KOMIPO) bought 600,000 tonnes per year of Australian coal via a five-year term tender while cancelling a spot tender due to high prices, a source from the utility said on Thursday.
The utility will not re-issue the cancelled tender to buy 130,0000 tonnes of coal, the source said.
Details of the purchase and the cancelled tender are as follow:
--Term purchaseTONNES/YR SPECIFICATION (NCV) PRICE(FOB/T) 600,000 min. 5,100 - 5,400 kcal/kg about $84
--Cancelled tenderTONNES(M/T) SPECIFICATION (NCV) SHIPPING SCHEDULE 130,000 min. 5,700 kcal/kg 4Q 2017 * Note: The five-year term contract period is from Nov. 2017
to 2022. NCV stands for Net Calorific Value.
S.Korea's KOMIPO buys 600,000 T/Y of coal for Nov.2017-2022
Before making any financial decisions based on what you read, always consult an advisor or expert.
The aim of HotCopper News is to report and comment on news in the financial and investment markets. HotCopper provides no advice on dealing in securities and is not a financial advisor. Professional advice should be sought before making any investment decisions.
Contact editor: [email protected]