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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
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