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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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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
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