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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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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Marubeni Corporation - India
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- Singapore Mercantile Exchange
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- Mercator Lines Limited - India
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- PowerSource Philippines DevCo
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- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
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- OPG Power Generation Pvt Ltd - India
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- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
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- Trasteel International SA, Italy
- Commonwealth Bank - Australia
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- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
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- IHS Mccloskey Coal Group - USA
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- Baramulti Group, Indonesia
- The Treasury - Australian Government
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- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
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- PTC India Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
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- Electricity Authority, New Zealand
- Anglo American - United Kingdom
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- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
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- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
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- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
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- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
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- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
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- VISA Power Limited - India
- Indonesian Coal Mining Association
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