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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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- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
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