Shanxi bags 5 panamax at Napocor

摘要

Shanxi won in a Philippines' National Power Corp. (Napocor) spot tender for five panamax shipments after submitting FOB and freight prices of 26.44 dollars/mt FOB and 5 dollars/mt, respectively, for delivery September 2003 to August 2004. Through trading firm Jibsen, Shanxi had fought hard against Shenhua, represented by trader Baretech, in the Napocor e-tender for the Sual station that lasted for nearly three hours, and in which both firms repeatedly lowered their offered prices. The tender was highly contested by the two Chinese exporters as it was Napocor's last bidding for 2003 in which Chinese firms could participate. A fifth batch of tenders would involve coal exclusively from Australia.