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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 $600 million purchase of West Virginia's Trinity Coal Corp. Signaling that Essar (and other groups like it) are moving fast to secure coal assets globally.
The coal industry is already a crowded space, with several nations competing for imports and to buy mines. The sudden addition of an aggressive and deep-pocketed buyer like India could end up being like trying to drive a bulldozer through a mousehole. Putting upward pressure on both coal trade prices and the price tag for purchasing deposits.
We saw this movie once before in 2005 when China turned from a net exporter of coal to a net importer. Prices soared and coal producers had a great run in the stock market.
India may be the only other nation on the planet with the ability to do same.
Source: OilPrice
Dave Forest, dforest@piercepoints.com, www.piercepoints.com
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Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
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- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- The University of Queensland
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
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