Coal news and updates

Jaypee may conclude negotiations for 4 cargos by end of week

January 20: The Jaypee Group, which had recently floated an enquiry to procure four cape size cargo of South African coal of 5,500 Kcal/kg NAR, is likely to conclude the deal by end of this week, ICMW learnt.

"No news yet but we understand that negotiations may conclude by end of this week," an official with a leading coal miner from South Africa told ICMW.

On January 14, ICMW had reported that Jaypee Group has floated an enquiry to procure four capesize cargo of imported steam coal for loading in the first quarter of 2014.

The enquiry was floated with traders as well as miners and it was primarily for South African material with calorific value of 5,500-6,000 Kcal/kg (NAR), ICMW had reported quoting a source.

The company is looking to get offers on FOB basis from miners and on CIF basis from traders, ICMW report said.