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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
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