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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, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
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