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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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Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
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- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- PTC India Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
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