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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, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- The University of Queensland
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
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