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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Australian Coal Association
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
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