Coal news and updates

Essar Power buys 3 capesize cargo of imported coal

October 9: Essar Power Ltd recently procured three capesize cargo of imported steam coal in the price band of sub-$70 per ton CIF level, a source told ICMW.

“The company had finalised deals to procure two parcels of Australian steam coal of 5,900 Kcal/kg NAR material and one parcel of Indonesian origin 5,800 Kcal/kg GAR material,” the source added.

The company has booked itself till November-December this year but is open to finalising deals if it gets attractive offers, but is presently operating cautiously because of issues related to letter of credit (LCs), the source said.