Wednesday, March 16, 2011

Korean News: S.Korean utility in talks with Japan for coal swap

Korea South-East Power Co Ltd (KOSEP) is considering taking 70,000 tonnes of Canadian thermal coal for late Mar arrival as Japanese utility J-Power is unable to use it after Japan's quake and tsunami, company and industry sources said on Mar 16.



Tokyo has declared force majeure on some coal vessel deliveries due to outages at its coal-fired plants, trade sources said. Tohoku Electric Power has also declared force majeure on its near-term thermal coal shipments due to severe port damage.



Japanese steel mills are diverting metallurgical coal cargoes due to plant outages and port disruptions sources said on Tuesday, with South Korea seen as a possible destination.



South Korea has held internal discussions on ways to cooperate with Japan over its neighbor's energy supplies.

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