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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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- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
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