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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 $600 million purchase of West Virginia's Trinity Coal Corp. Signaling that Essar (and other groups like it) are moving fast to secure coal assets globally.
The coal industry is already a crowded space, with several nations competing for imports and to buy mines. The sudden addition of an aggressive and deep-pocketed buyer like India could end up being like trying to drive a bulldozer through a mousehole. Putting upward pressure on both coal trade prices and the price tag for purchasing deposits.
We saw this movie once before in 2005 when China turned from a net exporter of coal to a net importer. Prices soared and coal producers had a great run in the stock market.
India may be the only other nation on the planet with the ability to do same.
Source: OilPrice
Dave Forest, dforest@piercepoints.com, www.piercepoints.com
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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
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