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<ul><li>Taiwanese utility Taiwan Power Company, or Taipower, has exercised its option to procure additional thermal coal cargoes this year under existing contracts, leaving Indonesian suppliers gasping amid supply tightness and a significant rise in prices in recent months, sources said this week.  Taipower is seeking an additional volume of 8.4 million mt of Indonesian coal for delivery between the fourth quarter of 2016 and Q1 2017, a source at Taipower said. The utility plans to import 15 million mt of Indonesian thermal coal this year, up from about 14 million mt in 2015. Taipower's total coal requirement for 2016 is estimated at 28 million mt, which includes an additional 7 million mt from Australia, another major supplier to the utility.  Some of the Indonesian thermal coal miners are struggling to cater to the utility's additional requirement under their term contracts for the year, sources said, adding that some of Taipower's suppliers are deferring Q4 shipments to Q1 2017.</li><li>"Indonesian supply is way tighter than Australian coal.</li><li>Most of the Indonesian suppliers said they cannot supply within the fourth quarter of 2016 so we had to extend [the shipping schedules]," the Taipower source said. "A stable supply and better price is what we were looking for," he added. The utility has exercised its option to procure additional tonnages as contracts awarded through tenders earlier this year were on a fixed price basis, said a major Indonesia-based producer source. Thermal coal prices have seen a significant rebound so far in the latter half of this year amid supply tightness in Indonesia as well as the return of Chinese demand for seaborne cargoes due to a cut in domestic supply. The price of 5,000 kcal/kg GAR coal has surged 32% since the start of the year, S&P Global Platts data showed. Some of the miners involved in this contract are impacted "pretty badly," the Indonesian producer source added, with some term suppliers heard having had to lower their spot supply to meet their contractual obligations to Taipower. </li></ul>

Taiwanese utility Taiwan Power Company, or Taipower, has exercised its option to procure additional thermal coal cargoes this year under existing contracts, leaving Indonesian suppliers gasping amid supply tightness and a significant rise in prices in recent months, sources said this week.  Taipower is seeking an additional volume of 8.4 million mt of Indonesian coal for delivery between the fourth quarter of 2016 and Q1 2017, a source at Taipower said. The utility plans to import 15 million mt of Indonesian thermal coal this year, up from about 14 million mt in 2015. Taipower's total coal requirement for 2016 is estimated at 28 million mt, which includes an additional 7 million mt from Australia, another major supplier to the utility.  Some of the Indonesian thermal coal miners are struggling to cater to the utility's additional requirement under their term contracts for the year, sources said, adding that some of Taipower's suppliers are deferring Q4 shipments to Q1 2017."Indonesian supply is way tighter than Australian coal.Most of the Indonesian suppliers said they cannot supply within the fourth quarter of 2016 so we had to extend [the shipping schedules]," the Taipower source said. "A stable supply and better price is what we were looking for," he added. The utility has exercised its option to procure additional tonnages as contracts awarded through tenders earlier this year were on a fixed price basis, said a major Indonesia-based producer source. Thermal coal prices have seen a significant rebound so far in the latter half of this year amid supply tightness in Indonesia as well as the return of Chinese demand for seaborne cargoes due to a cut in domestic supply. The price of 5,000 kcal/kg GAR coal has surged 32% since the start of the year, S&P Global Platts data showed. Some of the miners involved in this contract are impacted "pretty badly," the Indonesian producer source added, with some term suppliers heard having had to lower their spot supply to meet their contractual obligations to Taipower. 

Taiwan Taipower's Move To Buy More Indonesian Thermal Coal Hits Suppliers Amid Tightness

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SGX Technically Specified Rubber 20 (TSR20) Futures: Effective from 16th May 2011, this contract will be migrated from SICOM platform to the SGX-DT platform. It will cease trading on SICOM at the close of business day Friday, 13th May 2011. Trading hours are revised as 7.55am to 6.00pm (no lunch break). Please refer to SGX products website for the new revised contract specifications. Exchange symbol: TF. Product Specifications: https://www2.sgx.com/derivatives/products/sicom-rubber?cc=TF

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Taiwan Taipower's Move To Buy More Indonesian Thermal Coal Hits Suppliers Amid Tightness

Taiwanese utility Taiwan Power Company, or Taipower, has exercised its option to procure additional thermal coal cargoes this year under existing...

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