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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
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