From SPIC website: Shanghai Electric Power achieving autonomous clearance of imported coals for the first time

On December 5, the Turkish Bulk Carrier, “Ince Atlantic”, with 44,000 tons of coals from Indonesia, successfully berthed at the dork reserved for Waigaoqiao Power Co., Ltd., which marked that Shanghai Electric Power has made an important step on the autonomous clearance of imported coal business.

 

Import of coals by the company began in domestic tension coals supply period. Since the first importation of coals from Russia on March 5, 2009, the company has imported 10,758,000 tons of coals for Shanghai Electric Power. The coal mines are located in Russia, Indonesia, Australia, South Africa and Columbia, etc. The coals imported are made of high quality power coals with calorific values as high as 6000 great calories/kilogram and low-sulfur lignite with calorific values reaching 3,800 great calories/kilogram. The procurement of imported coals follows the requirements of lowering fuel purchase costs and ensuring sufficient fuel supplies. In recent years, the company strives to seek breakthroughs of international coals transactions by constant exploration and attempts.

 

Under the guidance of "Go Global" Development Strategy proposed by Shanghai Electric Power and with the leadership of executives of all levels, the company is planning a considerate schedule to positively improve the international transaction of coals. With coordination of resource allocation, establishment of corresponding systems, dredging of communication channels as well as familiarization of business procedures in October, the international trade department for coals of the fuel company will be established to be responsible for imported coals trades. Through certain practices, the fuel company will familiarize itself with and have a proficient mastery of such information and business links as overseas mines, quality of resources, logistics and exchange rates to promote importation of coals and its subsequent businesses. It is predicted that the imported coals will occupy 10% of the total fuels of the company in the next year. The autonomous imported coals will be no less than 200,000 tons to meet the requirements made by Shanghai Electric Power on the affiliated power plants such as lowering costs and providing economic-efficient coals and following the state stipulations of environmental protection to achieve win-win cooperation.

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