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Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
 US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains supply, president Rick Navarre said on Tuesday.
“The demand for met and thermal coal from the industrialisation of developing countries will continue to outpace the supply for the foreseeable future,” he told analysts and investors on a conference call.
Navarre described the mood in Pacific coal markets as “bullish”, while the domestic US market is “brightening”, as inventories are drawn down, he commented.
Metallurgical coal supplies are tight, and customers are pulling forward shipments where possible, and paying premiums for prompt deliveries.
Peabody, which mines steam and steelmaking coal in Australia and the US, also recently sold some metallurgical coal on the spot market to Chinese buyers at more than $200/t, Navarre added.
This is compared with the April 2009 settlements of $129/t for high-quality hard coking coal.
“This obviously tells you how tight the supply situation is and bodes well for the pending settlements for the coming year,” Navarre said.
China's total coal imports more than tripled in 2009, reaching 125-million tons, while India reached record coal import levels of 80-million tons.
“It's clear that China, India and emerging Asia remain at a full-throttle growth pace that continues to dwarf the US and Atlantic,” Peabody CEO Gregory Boyce commented.
China is “the major force reshaping global resource markets”, he said.
| “It's clear that China, India and emerging Asia remain at a full-throttle growth pace that continues to dwarf the US and Atlantic” – CEO, Peabody |
Boyce asserted that the strong demand levels from China are sustainable.
“We are in a new paradigm and I am convinced that China will remain a significant importer based on domestic needs, strategic intent and aggressive actions to acquire resources beyond its borders.”
In 2010, some 60-million tons to 70-million tons of coal production or imports will be needed just to replenish low inventories in China and India, not to mention the hundreds of millions of tons needed to satisfy added power plants and steel mills, Boyce said on the conference call.
BETTER THAN EXPECTED
Peabody reported fourth-quarter net income of $92,2-million, which was lower than the same period of the previous year, but above analyst estimates.
The company will continue to focus on high-growth Pacific markets while expanding Australian volumes and global trading activities, Boyce said.
In 2009, Peabody sold 243,6-million tons of coal, compared with 255-million tons in 2008.
Australian volumes totalled 22,3-million tons, including 6,9-million tons of metallurgical coal and 9,6-million tons of seaborne thermal shipments, the company said.
For 2010, Peabody is targeting total sales of 240-million to 260-million tons, including trading and brokerage volumes.
Australian sales are expected to increase to between 26-million and 28-million tons, including 7,5-million to 8,5-million tons of metallurgical coal.
US volumes are expected to be 185-million to 195-million tons.
Source: Mining Weekly
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Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Australian Coal Association
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
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