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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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Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
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- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
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