Coal news and updates

UltraTech finalises deal to procure 4 capesize cargo of SA coal

March 04: UltraTech Ltd, India’s leading cement maker, has recently finalised a deal to procure around 600,000 tons of South African steam coal for delivery between May and July this year, a high-level source told ICMW.

According to information available with ICMW, the deal was sealed at CFR price of $90.00 per ton for four cape size vessels.

On February 26, ICMW had reported that UltraTech has finalised a deal to procure a total of 400,000 tons of South African coal at $71-72 per ton FOB Richards Bay for delivery in April-June quarter.

However, it is now clarified that the deal was for 600,000 tons or four cape size vessels and not as reported on February 26.

Meanwhile, the source said that UltraTech is open to procure a few more cargo if the negotiations could materialize.