transnet improvements to aid ccc, page-5

With all the good news that is going on in Africa, surely the sp will get a re-rating.But I am still not sure why someone dosn't just buy out CCC instead of buying there coal!

Reuters reported that India's JSW Steel has joined state firms National Thermal Power Corp and MMTC in issuing a tender to buy imported thermal coal.

Suppliers participating in the tenders said that India's state utilities are suffering an acute shortage of fuel as domestic coal supply has fallen short of targets and as logistical constraints have hindered the transport of imported coal to where it is most needed.

Coal producers and traders hope this need will translate into higher imports and spot buying of South African and Indonesian coal in 2012.

One of India's major trade importers said that "There are several quite large tenders in the market now, seeking coal for the next fiscal year until March 2013, and everybody is waiting to see the result.”

A South African exporter said that "There's been very little spot buying, but there are some tenders, such as Jindal's.”

Some state utilities that have so far never used imported fuel may do so in the next fiscal year, which means NTPC and MMTC may issue more tenders, Indian traders and overseas coal suppliers said.