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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 $600 million purchase of West Virginia's Trinity Coal Corp. Signaling that Essar (and other groups like it) are moving fast to secure coal assets globally.
The coal industry is already a crowded space, with several nations competing for imports and to buy mines. The sudden addition of an aggressive and deep-pocketed buyer like India could end up being like trying to drive a bulldozer through a mousehole. Putting upward pressure on both coal trade prices and the price tag for purchasing deposits.
We saw this movie once before in 2005 when China turned from a net exporter of coal to a net importer. Prices soared and coal producers had a great run in the stock market.
India may be the only other nation on the planet with the ability to do same.
Source: OilPrice
Dave Forest, dforest@piercepoints.com, www.piercepoints.com
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Aditya Birla Group - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Minerals Council of Australia
- The University of Queensland
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
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