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Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
 Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president and chief executive officer (CEO) of the company, said Indian imports of coal rose a sharp 21 per cent in February, “nearly offsetting reduced demand from China” He made the comments in an earnings call with analysts as reproduced in Seeking Alpha last week. His comments show that despite attempts by the Indian government to push production of domestic coal, global miners see no cause for worry.
“Through March, Indian imports were up 6 million tonnes compared to the prior year, as utilities rebuild stockpiles and domestic production fails to keep pace with demand,” Kellow added.
The ministry of coal has not yet released data on the total imports by India for 2017-18. But, according to a reply to a question in Parliament, the total import of both coking coal, used by the steel industry, and of non-coking coal, used by other sectors like power plants, has come down 6.37 per cent as of March 31, 2107. Peabody’s upbeat note indicates the trend is likely to be reversed.
The US firm had filed for bankruptcy protection in April 2016, but the revival of the global market for minerals, including coal, has turned it around. US Energy Secretary Rick Perry on a recent tour of India had remarked that he was pleased about coal imports that had begun from the US to India. India and other Asian countries are also importing other energy fuels, including oil and gas, from the US. Perry said some of those imports would cut the adverse US trade deficit with countries like India, which had a surplus of $22 billion in balance of payments with the US.
Global miners like Peabody have also benefited by locking themselves into fixed price agreements for selling coal to India among other countries. This will help the companies to buffer themselves against a dip in coal prices that could upset their balance sheets. In the same call Kellow said, “Peabody has secured additional fixed price agreements to capitalise on strong thermal processing levels. We now have approximately 5.5 million tonnes locked in for 2018 at an average price of $76 per short tonne and some 2 million tonnes committed to 2019 at an average price of $75 dollars per short tonne.”
This means Indian importers of coal from the mining company, mostly port-based power plants and steel companies, will not be able to negotiate a softer price for the fuel even if local producer Coal India produces more and plans to reduce the price of its output. Peabody’s woes had come about because of a sharp drop in coal prices that had left it with an unserviceable debt pile of $10.1 billion.
However, in the earnings call, the company made no mention of plans to invest in Indian coal mines. Reversing a 44-year-old policy of keeping coal mines under the government, the ministry has opened new mines for investment by commercial miners.
Indian demand for coal is on course to compensate for the dip in demand from China. Data from the coal ministry shows, growth in supply of coal to the power sector was 7.2 per cent in 2017-18. “As estimated by the ministry of power, the pan-India growth of coal-based generation would be 5.4-5.7 per cent in the current year and the next four years,” the ministry has told Parliament.
Source: Business Standard
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Wednesday, 13 June 18
SHIPPING MARKET INSIGHT - SOPHIE COTZIAS
2018 marks quite a few milestones for Greek Shipping. No need to detail again the greatness of Greek Shipping or the singular position that Greek s ...
Monday, 11 June 18
AUSTRALIAN COAL PRICES HIT 6-YEAR HIGH AS ASIA DEMAND SPIKES - REUTERS
Australian thermal coal prices have risen to their highest level since 2012 as hot weather across North Asia spurs buying ahead of the peak summer ...
Monday, 11 June 18
ANALYSING A NEW AGE OF AUTONOMOUS VESSELS - IMO
The International Maritime Organization answers the questions of Government Europa on how the next generation of autonomous vessels can be regulate ...
Friday, 08 June 18
AUSTRALIAN THERMAL COAL PRICES SURGE AS ASIA DEMAND HEATS UP - REUTERS
Australian thermal coal prices have hit their highest level since late 2016 as the market heats up on strong demand across North Asia and China in ...
Wednesday, 06 June 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
As observed last month the price of oil hit its highest level since November 2014 reaching $80 per barrel. Global oil demand growth for 2018 was sl ...
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- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
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