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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, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
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- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
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