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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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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Sical Logistics Limited - India
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