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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
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