US Trader XCoal fetched deal with SAIL for supplying coking coal. SAIL fixed 5 lakh coal contract with Xcoal to supply in May’13. Xcoal will supply panamaxes vessels from Baltimore and Maryland to Vizag India.
Xcoal CEO Ernie Thrasher confirmed several shipments were coming now as part of a 500,000 MT , SAIL contract agreed in May 2012 for mid-vol blend. The coal being supplied to SAIL is a blend comprising Rosebud's Twin Rocks mid-vol with 22-23% volatile matter, 72% CSR and 1-1.2% sulfur, and its Dutch Run highvol, both mined in Pennsylvania.
SteelMint assessed last coking coal FOB US East Coast prices were $ 143.50/mt for Low Vol HCC and for High Vol A & B respectively $136.75/Mt & $122/mt.
SAIL AND RINL may charter ships directly
Government may allow Steel Authority of India Ltd (SAIL) and Rashtriya Ispat Nigam Ltd (RINL) to tie up with shipping lines for importing coal and other raw material instead of going through “Transchart”. This action would facilitate the state run steel making companies by meeting their import requirements of raw material Swiftly and Without Delay.
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