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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, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- The University of Queensland
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
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