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Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
 * Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand may cut exports from Q3
Cement makers worldwide are buying petroleum coke or petcoke wherever possible to replace more expensive steam coal as a fuel and raw material, cement industry sources and traders say.
As a result petcoke prices have risen $10.00 a tonne to $35.00 during the past month and are likely to reach parity with coal prices later in the year.
"What we're seeing worldwide is an overall reduction in demand for cement with some spots improving, but demand for petcoke is still pretty good because of reduced production and because petcoke prices are still attractive compared to coal," said Bill Day, spokesman for refiner Valero, the largest petcoke producer in the United States.
Total global demand for cement has fallen due to the economic slowdown but there are pockets of continued strong demand such as China and India.
Even where cement demand has fallen in Europe, cement makers are trying to replace coal with cheaper petcoke.
"Definitely for the past six months and noticeably for the past three months there has been a push in Europe for cement plants to take more petcoke, if they can get it," said a senior cement source who asked not to be named.
"They are taking petcoke mostly on long-term contracts but the spot price is attractive at $30.00-$35.00 a tonne FOB. Because of petcoke's higher energy content it works out cheaper than coal even at the same price per tonne, but there is little spot to buy," he said.
At FOB prices of around $35.00 FOB U.S. Gulf with freight of $45.00-$55.00 the delivered cost of petcoke is higher than coal on the face of it but the real cost due to petcoke's energy content is lower, traders said.
Up to 2004 cement makers and many European power plants were taking as much petcoke as they could instead of coal on grounds of price, despite petcoke's high sulphur content.
PARITY
Sharply increased petcoke prices due to strong domestic demand in 2007 made spot petcoke uncompetitive against coal. This scenario is likely to be repeated later this year because U.S. government fiscal stimulus packages including road-building programmes will boost demand for petcoke to make both asphalt and concrete, cement sources and traders said.
But petcoke prices have been rising since February and are set to reach parity with steam coal prices by Q3 because domestic U.S. demand is increasing at the same time as supply of the heavy, high-sulphur crude oil used to make petcoke is shrinking, they said.
Petcoke typically has higher energy content than steam coal, often 7,500 kilocalories per kilogramme (kcal/kg) compared with around 5,700-6,000 kcal/kg for steam coal. This makes it cheaper to ship and to burn than coal.
Petcoke's sulphur content is usually much higher at 1.5 - 3.00 percent or more, compared to 1.00 percent or less for coal.
"European cement makers would like to be able to build some inventories of petcoke now because they fear prices will rise sharply but they are simply not allowed to tie up cash in stocks," the cement source said.
Cement demand in Southern Europe particularly Spain, Portugal, Greece and Italy has plunged due to depression in construction. Cement makers are still producing at lower rates and while their total energy demand has dropped, they have taken the same or more petcoke and cut back other fuels such as coal, cement sources said.
"There is huge demand for petcoke in India, while it continues to be competitive with coal. But there is less available now than three months ago," an Indian trader said.
Source: Reuter (http://in.reuters.com/article/domesticNews/idINL109243920090701?sp=true)
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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
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