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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, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Intertek Mineral Services - Indonesia
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- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
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- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
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- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
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- Metalloyd Limited - United Kingdom
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- Economic Council, Georgia
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- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- GMR Energy Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Energy Development Corp, Philippines
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- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
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- South Luzon Thermal Energy Corporation
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- Africa Commodities Group - South Africa
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- Minerals Council of Australia
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- Wood Mackenzie - Singapore
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- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
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- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
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- PTC India Limited - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
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- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
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- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
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- SMC Global Power, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
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- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
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