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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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Friday, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
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- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
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- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
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- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
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- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
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- Posco Energy - South Korea
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- Singapore Mercantile Exchange
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- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parliament of New Zealand
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- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
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- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
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- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
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- Bhatia International Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
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- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
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- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
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- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- Krishnapatnam Port Company Ltd. - India
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- Chettinad Cement Corporation Ltd - India
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- Bangladesh Power Developement Board
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- Independent Power Producers Association of India
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- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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- The State Trading Corporation of India Ltd
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- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
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- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
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- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
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