{"id":10224,"date":"2012-04-24T16:29:30","date_gmt":"2012-04-24T14:29:30","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/update-1-edp-buys-2-4-mln-t-coal-for-201314-at-3-below-api2\/"},"modified":"2012-04-24T16:29:30","modified_gmt":"2012-04-24T14:29:30","slug":"update-1-edp-buys-2-4-mln-t-coal-for-201314-at-3-below-api2","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-edp-buys-2-4-mln-t-coal-for-201314-at-3-below-api2\/","title":{"rendered":"UPDATE 1-EDP buys 2.4 mln T coal for 2013\/14 at $3 below API2"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>By Jacqueline Cowhig<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">LONDON, April 24<\/span> (Reuters) &#8211; Energias de Portugal<br \/>\nhas bought 2.4 million tonnes of mostly Colombian and some U.S.<br \/>\nthermal coal for delivery in 2013 and 2014 at a discount of just<br \/>\nover $3.00 a tonne to the API2 index, sources at the utility and<br \/>\ntraders said.<\/p>\n<p><span><\/span><\/p>\n<p>Two contracts were awarded last Friday for 1.2 million<br \/>\ntonnes each, one to a Colombian producer and the other to a<br \/>\ntrader, following a tender issued just after the Easter<br \/>\nholidays, they said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We bought 1.2 million tonnes a year for 2013 and 2014,<br \/>\nmostly Colombian origin but some U.S.,&#8221; a source at the buyer<br \/>\nsaid.<\/p>\n<p><span><\/span><\/p>\n<p>Coal will be delivered to EDP&#8217;s usual ports of Gijon and<br \/>\nSines.<\/p>\n<p><span><\/span><\/p>\n<p>It costs more than $1.00 a tonne more to ship coal to the<br \/>\nIberian ports than to Europe&#8217;s main import hub ARA, a cost<br \/>\nreflected in the discount to the API2 index, they said.<\/p>\n<p><span><\/span><\/p>\n<p>EDP, alongside other major European utilities, has been<br \/>\nunable to secure forward contracts for U.S. coal at competitive<br \/>\nprices, although prompt supply is abundant and aggressively<br \/>\npriced.<\/p>\n<p><span><\/span><\/p>\n<p>Spain and Portugal saw strong coal consumption for power<br \/>\ngeneration through 2011 and this is set to continue this year.<\/p>\n<p><span><\/span><\/p>\n<p>According to Spain&#8217;s national grid manager REE,<br \/>\ncoal-fired power stations have generated 17,656 GWh out of a<br \/>\ntotal of 85,425 GWh or 20.7 percent of the country&#8217;s<br \/>\nelectricity.<\/p>\n<p><span><\/span><\/p>\n<p>EDP, which buys coal for plants in both Spain and Portugal,<br \/>\nis expected to burn 5 million tonnes of coal in 2012 and will<br \/>\nissue spot tenders for top-up tonnage, having secured baseload<br \/>\nsupply.<\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jacqueline Cowhig LONDON, April 24 (Reuters) &#8211; Energias de Portugal has bought 2.4 million tonnes of mostly Colombian and some U.S. thermal coal for delivery in 2013 and 2014 at a discount of just over $3.00 a tonne to the API2 index, sources at the utility and traders said. Two contracts were awarded last [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10224","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10224"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10224\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}