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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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Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- The University of Queensland
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
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