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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 $600 million purchase of West Virginia's Trinity Coal Corp. Signaling that Essar (and other groups like it) are moving fast to secure coal assets globally.
The coal industry is already a crowded space, with several nations competing for imports and to buy mines. The sudden addition of an aggressive and deep-pocketed buyer like India could end up being like trying to drive a bulldozer through a mousehole. Putting upward pressure on both coal trade prices and the price tag for purchasing deposits.
We saw this movie once before in 2005 when China turned from a net exporter of coal to a net importer. Prices soared and coal producers had a great run in the stock market.
India may be the only other nation on the planet with the ability to do same.
Source: OilPrice
Dave Forest, dforest@piercepoints.com, www.piercepoints.com
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
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