The Philippines' state-owned power producer, the National Power Corporation (NPC), has awarded trading firm Baretech on Mar. 7 a three-year contract involving shipments of 17 panamax of coal (about 69,000 tons) per year. Baretech is the Philippines agent for Chinese exporter Shenhua.
According to industry sources, the freight-on-board (FOB) price is US$102 per metric ton, consisting of coal with a calorific value of 6,100 kcal/kg GAR, plus shipment cost of US$35 per metric ton. Making the total first year offer or cost-and-freight (C&F) price worth US$137 per metric ton.
The second and third year price offers are not yet revealed as of this writing.
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