* South African coal diverted from China
* Spot enquiries rise for replacement cargoes
Jackie Cowhig and Fayen Wong Reuters AlertNet 6 Jan 11;
LONDON/SHANGHAI, Jan 6 (Reuters) - Big coal buyers across Asia scrambled to find replacement supplies on Thursday as mines in top producer Australia faced weeks under flood water.
Thermal coal, burned in power stations and the bulk of the world market, is tight. Utilities in Japan and South Korea, among others, have been frantic to keep their plants humming, traders said.
Some have managed to snap up South African coal destined for China.
"The number of phone calls we've had today even compared with yesterday, from buyers looking for replacement cargoes is unbelievable," one Asia-based coal trader said.
Japanese utilities were the most active in the hunt on Thursday, traders said, but they were not alone.
"South Korean utilities are getting quite desperate for spot supplies because they tend to have their inventory very lean and leave very little margin for errors," said a Singapore-based coal trader.
Of all the South Korean utilities, industry sources said Korea Midland Power Co Ltd was the most affected. Its peers were considering leasing coal to KOMIPO, as regulations prohibit utilities from reselling their fuel.
Indian traders affected by force majeure declarations on low energy content thermal coal from Queensland's Dalrymple Bay said they were struggling to find alternative supplies from Indonesia, South Africa or Russia.
Thermal coal has been less affected by the Queensland floods than coking coal, used in making steel, which has brought a seperate set of problems for the region's mills.
Thermal prices have rallied on worldwide disruption and have risen further on the floods.
