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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
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Tuesday, 08 September 09
SOUTH AFRICAN COAL EXPORTS MAY RISE ON SALES TO INDIA
Bloomberg reported that, South African coal exports may rise to 100 million metric tons a year by 2020 and India may become the biggest destination ...
Monday, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
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- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Trasteel International SA, Italy
- Planning Commission, India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
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