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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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Wednesday, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- The University of Queensland
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Australian Coal Association
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
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