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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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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
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