We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
 China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut in an attempt to consolidate the sector expired.
A major prop for global coal prices this year quietly expired at midnight on Monday, the deadline for small, dangerous mines in China's top producing province to merge into larger operators.
But analysts warn not to expect a quick supply filip after the Aug. 31 deadline for mines in Shanxi to join forces to be allowed to reopen, as the process of consolidation and continued pressure on the sector's appalling safety record constrains output.
Shutdowns in Shanxi earlier this year were a lucky break for coal suppliers in Australia, Indonesia and Vietnam, helping turn China into a net importer just as the global financial crisis demolished demand from other countries.
Now the province, source of 25% of China's coal, is poised to let many small mines reopen.
But a recent fatal explosion at a mine in Shanxi underlines that progress on safety is far from assured, while mines may be slow to return to normal production after the enforced mergers.
"Signing a framework agreement for a merger is much easier than actually finalising the price of the deal," said Wang Ye, an analyst at CITIC Securities. "It's easy to get engaged, but marriage is a totally different matter."
Small mines contribute roughly a third of Shanxi's coal output. For coking coal, the more valuable grade used by steelmakers, small mines contribute even more, as most coking coal resources are controlled by small mines, analysts said.
As the consolidation drive got underway after a major mine blast in late February, production from Shanxi failed to show the typical sharp recovery from the Lunar New Year holiday trough.
Output for Shanxi in the first seven months of 2009 fell by 12%, or 42 million tonnes, to 318 million tonnes -- a decline almost equal to the huge rise in imports that flipped China from a net exporter to a major net buyer of coal.
The world's top producer and consumer shipped in a net nearly 50 million tonnes of coal in the seven months to July, compared with 4.7 million tonnes of net exports in all of 2008.
"The major bullish case for thermal coal from a China perspective has been the supply constraints in Shanxi," said Scotia Capital China strategist Na Liu in a note to clients.
But with the mergers now having taken place, this bullish factor for global markets could be removed.
The shutdowns hit Shanxi hard, making it the only province to see its economy shrink in the first half of this year. That could prompt local officials to take a more lenient view of restarts at small mines, which make up 80%of the province's total.
One of China's top power producers, Huadian, expects Shanxi to produce 400 million tonnes of coal in the second half of the year, about 60% more than in the first half of the year and about 17 percent up from the same months of 2008.
If that proves accurate, Shanxi would pump enough coal into the Chinese market to deflate the appetite for imports. Liu said a third of Shanxi's output would be coking coal, so the impact would not be confined to the thermal coal market.
While the pace of output in Shanxi has been picking up since its low in January, it's not clear that this can be maintained.
"The fast growth we've seen in the past few months is not going to be sustainable," said Pierre Lau, a Citigroup analyst.
In the short term, the central government may keep a lid on further expansion before the Oct. 1 anniversary of the founding of the People's Republic of China, Lau added.
"Safety will be the focus before Oct. 1. I won't be surprised to see growth in Shanxi's coal output slow down a bit," he said.
CONSOLIDATION TO TAKE TIME
The hilly province in China's north, occupying less than 2 % of the country's territory, produced a quarter of China's coal in 2008. As well as a soot-blackened landscape and mine blasts that kill dozens or more every year, the booming coal industry has created a class of newly rich Chinese, conspicuous in their Hummers and Mercedes.
But standards have yet to show much improvement. Last week, an explosion at a mine being built in Shanxi killed 14 miners just as China launched a month of nationwide safety inspections.
"The accident will definitely affect small mines and those mines currently under construction," said an industry official in Shanxi, who expects production restrictions for the next month.
And the crackdown on small mines is not over. Shanxi still wants to cut the number from 2,600 now to 1,000 by end of 2010.
To sift out the smaller, less efficient operators, it will raise the minimum mine shaft capacity to 900,000 tonnes of coal a year, up from 360,000 tonnes today, a government document showed.
In addition, many small mines are expected to go through expansion and upgrading work, which will take as long as a year or two, Lu Ping, an analyst at China Merchants Securities, said.
"At the current stage, big companies are just carving up the province's coal resources."
Big state-owned companies including coal miners and power producers are rushing to buy the small mines. Shanxi Coal Import & Export Group and Shanxi Coal Transportation and Sales Group , which do not yet produce a tonne of coal, both have the ambition of hitting 50 million tonnes a year, local media reported.
Source:MineWeb
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 14 September 09
INDONESIAN GOVT UPBEAT ABOUT $1.5B, 185-KM COAL RAILWAY PROJECT
In addition to a 30-year concession right, the government will also award a competitive pricing scheme as an incentive to lure investors in a US$1.5 ...
Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
|
|
|
Showing 6426 to 6430 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Planning Commission, India
- White Energy Company Limited
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
|
| |
| |
|
