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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
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
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