S.Korea EWP buys coal via spot, term tenders

SEOUL, Oct 2 (Reuters) - Korea East West Power Co (EWP) has bought steaming coal via spot and five-year term tenders closed on Sept. 19, a company source said on Tuesday.

The utility purchased 65,000 tonnes of Indonesian coal of 4,600 kcal/kg via a spot tender from Klandee Resources Pte Ltd, the source said, but did not give any price information.

EWP also purchased a combined 710,000 tonnes per year of 4,600 kcal/kg coal in term tenders, more than double from 260,000 tonnes per year it originally sought.

The price was around $73 per tonne on a free-on-board (FOB) basis, the source added.

The company passed on another term tender seeking 260,000 tonnes per year of 5,100 kcal/kg coal, she said.

Details of the purchase from term tenders are as follows:

TONNES/Y SUPPLIER ORIGIN ARRIVAL 320,000 Cloud Peak Energy US Oct 2012-Sept 2017 260,000 Klandee Resources Indonesia Oct 2012-Sept 2017 130,000 PT Berau Coal Energy Indonesia Oct 2012-Sept 2017

(Reporting By Eunhye Shin; Editing by Himani Sarkar)

((Eunhye.Shin@thomsonreuters.com)(+82 2 3704 5667)(Reuters Messaging: eunhye.shin.thomsonreuters.com@reuters.net))

Keywords: COAL KOREA/