SEOUL, June 22 (Reuters) - Korea South-East Power Co Ltd (KOEN) KOSEP.UL has bought a total of 1,060,000 tonnes per year of steaming coal for 2016-2018 via three term tenders that closed on June 22, a source from the utility said on Wednesday.
The first tender was for 520,000 tonnes of coal per year but the utility was able to procure only half the amount via a single supplier. For the second and third tenders, there will be two suppliers each.
The utility declined to disclose the suppliers, but other details of the purchase for a single contract year are as follows:
TONNES(M/T)
ORIGIN
SPECIFICATION(NCV)
PRICE(FOBT)
260,000
Australia min. 5,700 kcal/kg
Below $57
480,000
Indonesia min. 4,600 kcal/kg
Below $46
320,000
Russia
min. 4,600 kcal/kg
Below $45
* Note: NCV stands for Net Calorific Value.