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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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- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
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