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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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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
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