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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- The University of Queensland
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
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