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Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
 Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for the global coal market. With in-country coal supplies flagging, Indian buyers are increasingly turning to imports to meet demand.
The situation at many of the nation's power plants is dire. The federal Central Electricity Authority monitors coal stockpiles at 79 plants throughout India. As of yesterday, 19 of those plants (25%) were running at "critical" levels, with less than 7 days worth of coal on hand.
In fact, 9 of those plants are operating with less than 4 days of coal supply. Meaning that 11% of national generating capacity is teetering on the edge of shutdown. These plants are completely reliant on new coal deliveries. If coal shipping is disrupted for any reason, there's no back-up.
There are a few factors at play here. Firstly, India's coal production is lagging demand. Due to fixed government pricing that makes it difficult for coal miners to turn a profit. There's simply not much economic incentive to build new mines (although the government is trying to horse-whip producers into increasing output, even at low prices.)
The other problem is that India's coal-producing regions are distant from many of the electricity demand centers, especially along the coast. Bottlenecks in rail transport make it difficult to get coal to many of the power plants that need supply most.
A clear solution seems to be emerging amongst many of India's biggest coal buyers. Go international.
Yesterday, Maharashtra State Power Generation Co. (the firm that supplies power to Mumbai, among other places) announced it will seek to import 3.35 million tons of thermal coal in the year beginning April 1.
This is a big jump in Maharashtra's foreign coal use. Up 40% from the 2.4 million tons imported in the year ended March 31.
The company's managing director Subrat Ratho made it clear this is a decision coming from the highest levels in India. As he noted, "We would like to import as little as we can because overseas coal is six-times more expensive than Indian coal. But it appears the Ministry of Power has made an assessment of how much coal the domestic companies will be able to supply to various states and have given us this target."
The decision is changing the face of coal imports across the country. India's thermal coal imports surged 100% in 2009, to 60 million tons. Up from just 30 million tons in 2008.
With India's focus now shifting to coal imports, a question is arising. Where will this international supply come from?
Nations like China and Japan have been competing hard for years to secure coal supplies in many of the world's richest regions like Indonesia and Australia. Being late to the party, India is now making its own push to capture supplies. By going forth and buying mines.
Last year, the Indian government gave explicit instructions to many of the nation's largest coal companies to buy overseas coal mines in the interest of nailing down import supply.
One such acquisition materialized this week, with major coal miner and power plant operator Essar Group announcing its purchase of the Aries coal mine in East Kalimantan, Indonesia. The project is reported to hold 100 million tons of thermal coal.
This follows on the heels of Essar's recently-announced $600 million purchase of West Virginia's Trinity Coal Corp. Signaling that Essar (and other groups like it) are moving fast to secure coal assets globally.
The coal industry is already a crowded space, with several nations competing for imports and to buy mines. The sudden addition of an aggressive and deep-pocketed buyer like India could end up being like trying to drive a bulldozer through a mousehole. Putting upward pressure on both coal trade prices and the price tag for purchasing deposits.
We saw this movie once before in 2005 when China turned from a net exporter of coal to a net importer. Prices soared and coal producers had a great run in the stock market.
India may be the only other nation on the planet with the ability to do same.
Source: OilPrice
Dave Forest, dforest@piercepoints.com, www.piercepoints.com
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Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
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- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
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