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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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Monday, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
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