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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
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