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Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
 After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the fourth quarter amid a drop in coal prices, industry sources said.
Some analysts said China's demand for imported coal could increase further in coming months, as a recent wave of coal mine closures triggered by a mine explosion could raise domestic coal prices, making imports more attractive.
Australian producers said Chinese buyers were mostly seeking off-specification coal, with high heating value and ash content, for delivery through the rest of the year, while some buyers were also keen to book in shipments for delivery in early 2010.
However, at least three Australian producers said they had little of this high ash coal available to sell, after having sold large amounts of this type of coal to China over the second quarter.
"The economics look like the Chinese are now in favour of Australian coal, and there is also a notable pickup in enquiries from them on the back of freight easing and lower coal prices," a marketing executive at a large local coal mining firm said.
"But there's not much of those coal grades available now. And given the export constraints, producers would rather keep some spare tonnage as we head into winter months in the northern hemisphere, when prices are expected to go higher."
Australia's thermal coal prices on the globalCOAL Newcastle weekly index have fallen about 13 per cent since August to hover near a three and a half month low around $U66 a tonne, based on free-on-board (FOB) prices at the Newcastle port.
The globalCOAL benchmark price is based on coal with a heating value of 6,322 kcal/kg (GAR) and a maximum ash content of 15 per cent.
But high ash coal that the Chinese typically buy is much cheaper.
Some producers offer coal with 20 per cent ash content as low as about $US61, which takes its landed price into China to between $US90 and $US93 a tonne - compared with a domestic landed cost of around $US97 a tonne for coal with a heating value of 5,800 kcal/kg (NAR).
Analysts said Asian coal prices were poised for a rebound on the back of rising Chinese imports.
"Seaborne thermal coal prices may receive support in coming months following the closure of hundreds of small Chinese coal mines due to an accident," commodities analyst at the Commonwealth Bank of Australia David Moore said in a note.
In Indonesia, the world's largest exporter of thermal coal, producers and traders said China's renewed interest in imports had helped to soak up the market's excess supplies.
A surprising spell of dry weather, along with a drop in domestic coal demand, has resulted in a deluge of Indonesian coal and prompted producers in recent months to sell their supplies at very low margins amid stiff competition and tepid demand.
"Demand from Cina has improved over the past few weeks and that's helping to inject life into a market that would otherwise be struggling very hard to get by," one Indonesian producer said.
"The Chinese are also driving a hard bargain, but we're happy as long as we're able to sell the extra tonnes."
Another Indonesian producer said the firm had sold about 200,000 tonnes of sub-bituminous coal into China over the past month, with prices fixed at around $US45.50 a tonne FOB, based on coal with a heating value of 4,700 kcal/kg (NAR) and a maximum of five per cent ash.
In related news, The City of Pingdingshan in central China's Henan Province has ordered all 157 coal mine shafts within its district to close, after a mine explosion killed 35 people, Xinhua News Agency reported.
Source: Business Spectator
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Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Central Electricity Authority - India
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- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
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- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
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- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
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- Mintek Dendrill Indonesia
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- Maheswari Brothers Coal Limited - India
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- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
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- TeaM Sual Corporation - Philippines
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
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- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
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- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
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- Maharashtra Electricity Regulatory Commission - India
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- Jorong Barutama Greston.PT - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
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- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- White Energy Company Limited
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- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
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- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
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- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
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- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
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- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
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- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
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- GMR Energy Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
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- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
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- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Mjunction Services Limited - India
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- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
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- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
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- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
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- Medco Energi Mining Internasional
- Aditya Birla Group - India
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- PTC India Limited - India
- Goldman Sachs - Singapore
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- CIMB Investment Bank - Malaysia
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- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
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