SEOUL, May 15 (Reuters) - Korea South East Power Co Ltd (KOEN) has bought a combined 1.52 million tonnes per year of coal via three-year term tenders that closed on May 11, a source from the utility said on Monday.
The utility purchased 1.04 million tonnes of high calorific coal from Australia at around $70 a tonne on a free-on-board (FOB) basis, and the remaining 480,000 tonnes of low calorific coal from Indonesia at about $65 a tonnes on a FOB basis, the source said.
Details of the purchase are as follows:
TONNES/YR(M/T) SPECIFICATION(NCV)
ORIGIN/PRICE(FOB/T)
1,040,000
min. 5,700 kcal/kg
Australia/ around $70
480,000
min. 4,600 kcal/kg
Indonesia/ around $65
*Note: NCV stands for Net Calorific Value. The contract period is from July 2017 through December 2019.