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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, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- PTC India Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
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