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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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Thursday, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Australian Coal Association
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
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