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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
 Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based domestic power generators in the next year. Spot prices for the fuel at Australia’s Newcastle port, a benchmark for Asia, have appreciated almost 10 per cent in November and rates at China’s Qinhuangdao port, a standard for the world’s largest coal consumer, have also seen a steady increase over the last two months.
Harried by the supply-demand mismatch in Indian coal production, a number of private sector power companies have pegged their port-based projects on overseas coal, with a specific dependence on the Indonesian variety. These include Reliance Power, which intends on using Krishnapatnam port, Essar Power, through Salaya port, and Tata Power as well as Adani Power, both of who will use Mundra Port.
“With Indian coal mining companies being unable to provide service to power producers such as NTPC, there is a huge dependence on the international market which is expected to increase as the volumes required are just not available in the country. Although long-term arrangements are being worked out, substantial amount of coal comes through the import route at present,” an analyst with InfralineEnergy Reseach and Information said.
However, with Indonesia’s thermal coal export growth likely to see a marked slowdown, importing the fuel will become more expensive for Indian firms.
Although Indonesian exports account for over 35 per cent of the global sea-borne coal market, the ability of Indonesian producers to ramp up production for sustaining export growth could be constrained by delay and regulatory uncertainties. Also, rising demand from Indonesian power producers and cautious capex programmes by major miners there, due to the global crisis, could see the prices of Indonesian coal rising in the coming months, according to a research by Citigroup.
Supply tightness is also expected to persist globally as export growth in both Australia and South Africa will be restricted due to port and rail infrastructure development. In the latter market, growing domestic demand, too, is likely to have an impact on thermal coal prices, an analysis by AME Mineral Economics suggested.
Moreover, thermal coal prices will also lent a degree of robustness as China, a study by Barclays Capital says, is likely to remain a major importer next year on the back of mine consolidation, expectation of a strong economic growth and possibility of higher taxes. In recent weeks, an increase in heating demand in China, triggered by the harshest winter in almost six decades, have spiked coal prices at Qinhuangdao port.
“Considering almost half of the coal requirement for the new coastal power projects is to be brought in from abroad, there will definitely be an impact on power companies. Although the cost of generation will increase, passing on the burden to the consumer will be tough and it will have to be absorbed by the generators themselves,” Angel Broking analyst Rupesh Sankhe said.
Although power companies have been allocated coal blocks for captive use, exploration and production from these might not happen immediately. Also, with many firms scouting for coal assets overseas, there is a dependence on spot purchases in the short-term.
“Larger players who have already secured assets abroad are unlikely to be affected and their consumers will not be hit if global coal prices rise. However, those firms who don’t have their own mines and are dependent on the market will have to bear the brunt,” Visa Group Chairman Vishambhar Saran said.
Although India has substantial non-coking coal reserves, in the range of 230 billion tonnes, there has been an increased reliance on imported coal. In 2007-08, the country imported about 28 million tonnes of non-coking coal as compared to 8.69 million tonnes in 2003-04. However, according to Citigroup estimates, India could have a combined import demand for thermal and coking coal to the tune of 140 million tonnes per year by 2013-14.
Source: Business-Standard
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Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
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- Aditya Birla Group - India
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- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Economic Council, Georgia
- Planning Commission, India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
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- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
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- Semirara Mining and Power Corporation, Philippines
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- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
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- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
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- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
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- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
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- The University of Queensland
- MS Steel International - UAE
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
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- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Australian Coal Association
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
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- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
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- Latin American Coal - Colombia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
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- Cement Manufacturers Association - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
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- Aboitiz Power Corporation - Philippines
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- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
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- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
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- Sakthi Sugars Limited - India
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- Indonesian Coal Mining Association
- Eastern Coal Council - USA
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- SMC Global Power, Philippines
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