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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, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
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- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
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