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Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
 CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher international shipping rates.
In the latest development, Reuters reported yesterday that a cargo of high-ash, low-volatile content Australian coal already on the water was offered at $US72 a tonne after the Chinese buyer cancelled the contract.
Chinese coal traders contacted today were mostly unaware of any cancellation, but some said that if a cargo already on the water had been cancelled, this would be very unusual.
A trader with a southern China company said imported coal was no longer cheaper than domestic coal due to higher freight rates and the rising price of imports.
His company, the trader said, had as a result now stopped importing coal from Australia.
News of the reported cancellation was the subject of chatter in foreign exchange markets yesterday, and some participants suggested that commodity-related tensions between Australia and China may have been an element involved.
RBC Capital Markets senior strategist Sue Trinh said the reported cancellation "might have been simply due to China already having enough on stockpile, and slower domestic demand pick-up, but the timing was intriguing".
China's imports of Australian coal have risen sharply this year. In the first five months of 2009, these imports were six times higher than during the same period a year earlier, at 10.47 million metric tons, according to the latest data released by China customs.
May import levels were dramatically higher, at 3.65 million tons, 15 times higher than in May 2008.
The buying spree earlier this year was mainly a result of a plunge in Australian coal prices and freight rates, as global economic woes slashed regional demand for coal and curbed trading activity, traders said.
As a result, Asia benchmark coal prices plummeted by two thirds from a July 2008 peak of $194.8/ton.
However, demand from China has helped prices rally by around 20 per cent since early April.
Australian coal at the port of Newcastle, a regional benchmark, was assessed around $US73.13/ton by globalCOAL today, compared with around $US60 in early April.
In addition, bulk freight rates have more than doubled over the past month, with the Baltic capsize index up 220 per cent and the broader Baltic Dry up 130 per cent, Citigroup said yesterday in a research note.
China's benchmark spot coal prices, which were quoted at 590 yuan to 605 yuan on Monday, have remained relatively stable since February, data released by the China Coal Transportation and Distribution Association shows.
Coal stockpiles in China are very high. Stocks at the major coal shipping port of Qinhuangdao stood at 6.6 million tons on Monday, the highest level in almost four months, despite higher demand for thermal coal from power generation during the summer.
Stockpiles at power plants are also high, the association said, and added that power plants along the Yangtze River in eastern China had enough coal for 21 days of consumption and plants in central China had enough for 67 days.
Source: The Australian
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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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- Cigading International Bulk Terminal - Indonesia
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- European Bulk Services B.V. - Netherlands
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- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
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- Parliament of New Zealand
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- Rio Tinto Coal - Australia
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- Economic Council, Georgia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
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- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
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- International Coal Ventures Pvt Ltd - India
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- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
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- Indika Energy - Indonesia
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- Central Electricity Authority - India
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- Toyota Tsusho Corporation, Japan
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- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
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- Siam City Cement PLC, Thailand
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- Singapore Mercantile Exchange
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- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
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- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
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- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
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- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
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- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
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