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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 $600 million purchase of West Virginia's Trinity Coal Corp. Signaling that Essar (and other groups like it) are moving fast to secure coal assets globally.
The coal industry is already a crowded space, with several nations competing for imports and to buy mines. The sudden addition of an aggressive and deep-pocketed buyer like India could end up being like trying to drive a bulldozer through a mousehole. Putting upward pressure on both coal trade prices and the price tag for purchasing deposits.
We saw this movie once before in 2005 when China turned from a net exporter of coal to a net importer. Prices soared and coal producers had a great run in the stock market.
India may be the only other nation on the planet with the ability to do same.
Source: OilPrice
Dave Forest, dforest@piercepoints.com, www.piercepoints.com
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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Parliament of New Zealand
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- White Energy Company Limited
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
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