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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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Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
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