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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, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
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