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Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
 Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for the global coal market. With in-country coal supplies flagging, Indian buyers are increasingly turning to imports to meet demand.
The situation at many of the nation's power plants is dire. The federal Central Electricity Authority monitors coal stockpiles at 79 plants throughout India. As of yesterday, 19 of those plants (25%) were running at "critical" levels, with less than 7 days worth of coal on hand.
In fact, 9 of those plants are operating with less than 4 days of coal supply. Meaning that 11% of national generating capacity is teetering on the edge of shutdown. These plants are completely reliant on new coal deliveries. If coal shipping is disrupted for any reason, there's no back-up.
There are a few factors at play here. Firstly, India's coal production is lagging demand. Due to fixed government pricing that makes it difficult for coal miners to turn a profit. There's simply not much economic incentive to build new mines (although the government is trying to horse-whip producers into increasing output, even at low prices.)
The other problem is that India's coal-producing regions are distant from many of the electricity demand centers, especially along the coast. Bottlenecks in rail transport make it difficult to get coal to many of the power plants that need supply most.
A clear solution seems to be emerging amongst many of India's biggest coal buyers. Go international.
Yesterday, Maharashtra State Power Generation Co. (the firm that supplies power to Mumbai, among other places) announced it will seek to import 3.35 million tons of thermal coal in the year beginning April 1.
This is a big jump in Maharashtra's foreign coal use. Up 40% from the 2.4 million tons imported in the year ended March 31.
The company's managing director Subrat Ratho made it clear this is a decision coming from the highest levels in India. As he noted, "We would like to import as little as we can because overseas coal is six-times more expensive than Indian coal. But it appears the Ministry of Power has made an assessment of how much coal the domestic companies will be able to supply to various states and have given us this target."
The decision is changing the face of coal imports across the country. India's thermal coal imports surged 100% in 2009, to 60 million tons. Up from just 30 million tons in 2008.
With India's focus now shifting to coal imports, a question is arising. Where will this international supply come from?
Nations like China and Japan have been competing hard for years to secure coal supplies in many of the world's richest regions like Indonesia and Australia. Being late to the party, India is now making its own push to capture supplies. By going forth and buying mines.
Last year, the Indian government gave explicit instructions to many of the nation's largest coal companies to buy overseas coal mines in the interest of nailing down import supply.
One such acquisition materialized this week, with major coal miner and power plant operator Essar Group announcing its purchase of the Aries coal mine in East Kalimantan, Indonesia. The project is reported to hold 100 million tons of thermal coal.
This follows on the heels of Essar's recently-announced $600 million purchase of West Virginia's Trinity Coal Corp. Signaling that Essar (and other groups like it) are moving fast to secure coal assets globally.
The coal industry is already a crowded space, with several nations competing for imports and to buy mines. The sudden addition of an aggressive and deep-pocketed buyer like India could end up being like trying to drive a bulldozer through a mousehole. Putting upward pressure on both coal trade prices and the price tag for purchasing deposits.
We saw this movie once before in 2005 when China turned from a net exporter of coal to a net importer. Prices soared and coal producers had a great run in the stock market.
India may be the only other nation on the planet with the ability to do same.
Source: OilPrice
Dave Forest, dforest@piercepoints.com, www.piercepoints.com
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Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
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- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
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