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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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Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
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- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Parliament of New Zealand
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
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