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S.Korea's KOMIPO buys 600,000 T/Y of coal for Nov.2017-2022

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  1. 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 purchase

         TONNES/YR    SPECIFICATION (NCV)          PRICE(FOB/T)  
          600,000    min. 5,100 - 5,400 kcal/kg    about $84  
    

    --Cancelled tender

         TONNES(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.



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