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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, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
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- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
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