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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
 Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research report by financial institution MF Global. The report highlighted the potential of Mozambique and Mongolia to be “potential game changers” on the supply side - but only from 2015 and “conditional on infrastructure”.
As a result of its concern over the provision of the required infrastructure, MF Global has turned bearish on prospects for Australian junior Riversdale Mining which is developing two major coking coal projects near Tete in Mozambique.
These are the Benga project, in which Indian steel group Tata holds a 35% stake, and the Zambeze project, in which Chinese group Wuhan Iron and Steel Corporation has just agreed to buy a 40% stake.
Riversdale has also struck a logistics partnership agreement with China Communications Construction Company.
This company will carry out a “mine to ship logistics” study into the export of large volumes of coal from Mozambique, which at present suffers severe limitations on its rail and port infrastructure.
On Thursday, Riversdale announced a capital raising of A$337m at a fixed offer price of A$9.40 a share to accelerate the development of stages two and three of the Benga project.
Riversdale chairman Michael O’ Keeffe said the accelerated logistics development also included “Riversdale’s commitment to upgrading the existing coal terminal at Beira, for which Riversdale has entered into a memorandum of understanding with Vale and the Mozambique rail and port authority CFM.”
MF Global has put out a sell recommendation on Riversdale, on the grounds that the market “is expecting too much too soon”.
The firm said: “The risk/reward profile on offer is actually about long-term infrastructure development and financing.
“Given the recent share price moves, we believe the market is already pricing in quite an optimistic outcome on this front, particularly when compared to a number of producing companies where resource optionality isn’t being valued at all.
“The infrastructure demands are challenging and we expect disappointments. Riversdale’s production targets are conditional upon a significant amount of infrastructure being developed and allocations being received.
“Investors without a very long-time horizon and specialist interest in development risk would be best taking profits above $10.”
MF Global said the coking coal market appeared more balanced than iron ore, because China was not such a major factor.
The firm said: “Japan is the largest destination (35%) followed by India (20%), China (10%) and Europe (10%).
“The more balanced spread is positive when compared to the concentrated risk of the iron ore market, particularly if there is to be a more balanced global economy in 2010.
“In the longer term, demand will be driven by India and Brazil which are long (on) iron ore but short coking coal. “
Turning to the supply side, MF Global pointed out this was dominated at present by Australia which accounted for 70% of the seaborne trade in coking coal. However, supply growth from that country was constrained by logistics problems.
About 85% of the metallurgical coal exports from Australia are shipped from the state of Queensland, but MF Global pointed out port capacity has been operating at around 70% to 80% for the past five years.
The report stated: “In Queensland, the rail network is underdeveloped and congestions are frequent. System underperformance has resulted in lost sales and increased demurrage. “The queues of ships that can sometimes stretch as long as 70 in number and can wait for over a month to be loaded, are nearly always caused by rail congestion rather than the port facility itself.”
Source: Mining Mx / Hellenic Shipping
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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
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