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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
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