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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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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
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- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
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- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
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- Interocean Group of Companies - India
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- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
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- Power Finance Corporation Ltd., India
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- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
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- Karaikal Port Pvt Ltd - India
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- Economic Council, Georgia
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- Indonesian Coal Mining Association
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- Sindya Power Generating Company Private Ltd
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- White Energy Company Limited
- Metalloyd Limited - United Kingdom
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- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
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- Ministry of Finance - Indonesia
- MS Steel International - UAE
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- Mjunction Services Limited - India
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- Georgia Ports Authority, United States
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- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kohat Cement Company Ltd. - Pakistan
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- India Bulls Power Limited - India
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- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
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- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
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- Alfred C Toepfer International GmbH - Germany
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- PTC India Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
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