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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, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
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- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- PowerSource Philippines DevCo
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
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