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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- The University of Queensland
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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