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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
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