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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Mjunction Services Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
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