EWP Buys 400,000 T/Y Coal

Korea East-West Power Co Ltd bought a total of 400,000 tonnes of Australian and Indonesian coal per year for shipment between April and May via two term tenders closed on Feb. 19, a source from the utility said on Tuesday.

Details are as follows (first contract year):

TONNES/YR   SPECIFICATION(NCV)  SUPPLIER    PRICE(FOB/T)
260,000           min. 5,300kcal/kg          Flame SA     Around $42
140,000           min. 4,600kcal/kg          Flame SA     Around $43
   
(*) Note: NCV stands for Net Calorific Value. Prices reported above are based on 6,080kcal/kg basis. Contract is from April 2016 to May 2020.

Reporting by Rebecca Jang