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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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Monday, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
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Showing 1741 to 1745 news of total 6871 |
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- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
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