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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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Saturday, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
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- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
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