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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
 Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region reduces hydropower generation, said Puda Coal Inc. Chief Financial Officer Laby Wu.
“Demand is still strong,” Wu said in a phone interview from Beijing. “Prices will increase from 2009 due to strong demand for electricity generation. The southwest drought will also drive demand for thermal coal.”
China’s thermal coal prices jumped to an average 700 yuan to 800 yuan a metric ton in the fourth quarter from an average 400 yuan to 500 yuan for the year, she said. Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks on March 29 after the drought cut hydropower generation and raised demand from coal- fired plants.
Coal demand won’t be able to meet supply this year given a prediction from China’s top economic planning agency that electricity generation will grow 7 percent in 2010, while raw coal production will only rise 3 percent, Wu said.
China, the world’s biggest user and producer of coal, will remain a net importer of the fuel this year after buying for the first time last year as a nationwide safety crackdown closed about 1,000 small mines, Wu said.
Company Transition
U.S.-traded shares of Puda Coal have rallied 46 percent this year, spurred by the company’s transition into high margin mining production from low margin coal washing.
China’s demand for coal used to make steel is forecast to rise 5.6 percent to 38 million metric tons this year, according to Macquarie Group Ltd. last week.
Puda Coal expects mining of the fuel to comprise $20 million to $40 million in revenue this year and contribute profit of as much as $12 million after a zero input last year, Wu said.
Puda Coal is benefiting from the decision by the provincial government in Shaanxi, where the company is based, to put the company in charge of consolidating the industry including mine closures and mergers, Wu said. She expects the company to complete two mining acquisitions this quarter.
Source: Businessweek (By: Allen Wan. Editors: Richard Frost, Margo Towie)
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Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
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- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
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- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
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- Cement Manufacturers Association - India
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- Ministry of Finance - Indonesia
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- Globalindo Alam Lestari - Indonesia
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- Wood Mackenzie - Singapore
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- Vedanta Resources Plc - India
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- Parliament of New Zealand
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- White Energy Company Limited
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- Samtan Co., Ltd - South Korea
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- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Singapore Mercantile Exchange
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- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
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- Minerals Council of Australia
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- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
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- PowerSource Philippines DevCo
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- Bukit Makmur.PT - Indonesia
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- The State Trading Corporation of India Ltd
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- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
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- Eastern Energy - Thailand
- London Commodity Brokers - England
- CNBM International Corporation - China
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- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
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- Ministry of Mines - Canada
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- Pipit Mutiara Jaya. PT, Indonesia
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- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
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