Korea's KOSEP shortlists bidders in coal tenders
PERTH, June 25
PERTH, June 25 (Reuters) - Korea South-East Power Co (KOSEP) has shortlisted bidders with offers totalling up to 7 million tonnes of coal, above the 3 million tonnes of the fuel it had sought in recent tenders, trade sources participating in the tenders said on Thursday. Two trade sources said the utility had also requested that the shortlisted bidders lower their prices and submit revised offers by July 1.
KOSEP's tenders, which are for coal for delivery between 2009-2011, saw a deluge of bids from suppliers for a combined total of as much as 15 million tonnes of coal, with prices ranging between high-$60s to high-$70s per tonne.
Officials from KOSEP declined to comment.
Market sources said KOSEP was in no hurry to award the tenders, which are mostly for long-term supplies. They said the utility was also hoping to secure some tonnage cheaply following the recent drop in Asian coal prices.
One of the tenders was for up to 1 million tonnes of sub-bituminous coal for delivery for one year, starting from August 2009, while three others were for a total of 2 million tonnes of coal per year over three years. [ID:nJKB001217] (Reporting by Fayen Wong)
- Tweet this
- Share this
- Digg this
- TCS net profit rises 51.5 percent, sees stronger sales growth
- Hundreds of earthquakes strike central Idaho, rattling nerves
- Ocean floor search for missing Malaysia plane cut short again
- Search resumes for hundreds missing in S. Korean ferry disaster
- Syria says vehicles hit by Jordanian Air Force are not Syrian Army
Prime ministerial frontrunner Narendra Modi said he was committed to a policy of no first use of nuclear weapons, seeking to assuage concern after his Hindu nationalist BJP party vowed to revise the nuclear doctrine if elected to power. Full Article