Coal rises - would be longer, longer in the future : o The problems is in infrastructure haltings in overseas - that would be not solved even in short-term futures
o Some exporter's countries cut their exports recently - meaning it's advantage, benefititing to Indonesia - as the world's largest producer of thermal coal o Meanwhile - it has advantage from oil rises - but also benefittings from the above factors themselves directly Happy chuan, Aria Newcastle Coal Rises to Record on Australian Floods (Update2) By Angela Macdonald-Smith Feb. 18 (Bloomberg) -- Thermal coal prices rose to a record for a fourth week at Australia's Newcastle port, a benchmark for Asia, as floods cut deliveries in Queensland, adding to supply disruptions in China and South Africa. Power-station coal prices at the New South Wales port gained $13.68, or 11 percent, to $139.16 a metric ton in the week ended Feb. 15, according to the globalCOAL NEWC Index. The price rose 73 percent in 2007. The increase comes as mine owners and fuel buyers are set to negotiate annual contract prices to take effect April 1. Xstrata Plc, the world's biggest exporter of thermal coal, last week advised customers of delays to deliveries from two mines in Queensland, including the Newlands mine that produces the type of the fuel burned in power plants. China, with coal deliveries disrupted by the heaviest snowstorms in 50 years, has halted exports until April, while power cuts in South Africa have reduced mine production. ``It's clearly a supply issue, it's just one problem after another,'' said Mark Pervan, a senior commodity strategist at Australia & New Zealand Banking Group Ltd. in Melbourne. ``It still looks as if we've got some heavy wet weather coming through Queensland and I think the market is going to remain very tight until the whole thing passes.'' Coal for delivery in northwest Europe also rose to a record on Feb. 15. Monsoon Trough The rains are being caused by a monsoon trough that extends across the tropics of Queensland from the Gulf of Carpentaria to the central Coral Sea, the Bureau of Meteorology said on its Web site. The town of Mackay on Queensland's central coast was declared a disaster zone Feb. 15 as residence were evacuated due to flooding following the heaviest rain in 90 years. The Bureau is warning of ``damaging wind gusts'' and ``dangerous wave conditions'' around Queensland's central coast. ``High tides over the next few days will result in waves running up over levels exceeding the highest tides of the year in areas exposed to the open ocean causing beach erosion,'' it said in a report at 11 a.m. today. Rio Tinto Group, BHP Billiton Mitsubishi Alliance, Wesfarmers Ltd., Ensham Resources Pty and Macarthur Coal Ltd. are among other companies that have declared force majeure on shipments from some mines, allowing them to miss contracted deliveries due to circumstances beyond their control. The Queensland flooding has also disrupted rail networks delivering coal, Queensland Rail said last week. Vietnam's Exports The disruptions drove a surge in spot prices to a record, Tex Report said last week, without citing anyone. Coal used in steelmaking rose to $270 a ton, while power-station coal climbed to $150, it said. Citigroup Inc., UBS AG and JPMorgan Chase & Co. are among banks that in the past three weeks have raised their forecasts for the new annual contract prices for thermal coal. Prices may almost double to $100 a ton, Citigroup Inc. estimates. UBS is also forecasting $100 a ton for power-station coal, while JPMorgan raised its forecast to $90, up from $55.65 this year. GlobalCOAL's monthly index for Newcastle thermal coal prices rose $1.71, or 1.9 percent, to $90.87 a ton in January, the fourth successive monthly record. Newcastle is the world's biggest coal-export harbor. Vietnam, China's largest coal supplier, plans to reduce exports by 32 percent this year and gradually eliminate the sales to meet rising domestic demand, a government official said last week. Coal exports may drop to a forecast 22 million tons from 32.2 million in 2007, Nguyen Khac Tho, vice director of the Ministry of Industry and Trade's energy and petroleum department, said in an interview in Hanoi on Feb. 14. The ministry will recommend Prime Minister Nguyen Tan Dung halt overseas shipments by the world's eighth-largest exporter of energy coal after 2015. To contact the reporter on this story: Angela Macdonald-Smith in Sydney at [EMAIL PROTECTED] Kunjungi situs http://www.info-saham.com untuk informasi seputar saham. 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