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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 $600 million purchase of West Virginia's Trinity Coal Corp. Signaling that Essar (and other groups like it) are moving fast to secure coal assets globally.
The coal industry is already a crowded space, with several nations competing for imports and to buy mines. The sudden addition of an aggressive and deep-pocketed buyer like India could end up being like trying to drive a bulldozer through a mousehole. Putting upward pressure on both coal trade prices and the price tag for purchasing deposits.
We saw this movie once before in 2005 when China turned from a net exporter of coal to a net importer. Prices soared and coal producers had a great run in the stock market.
India may be the only other nation on the planet with the ability to do same.
Source: OilPrice
Dave Forest, dforest@piercepoints.com, www.piercepoints.com
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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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