PERTH, June 25 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)