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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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Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
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- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
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