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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
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