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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, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
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