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Saturday, 20 June 09
COAL OUTLOOK DARKENS AS PRODUCERS LOOK FOR PRICING FLEXIBILITY
Russia’s coal output has dropped 17% in the first quarter of the year, with slowing demand and rising tariffs adding gloom to the outlook for the industry.
Russia has second largest coal reserves in the world – but its gas reserves are even bigger.
Over the past decade it has increased the use of gas to fuel its power stations, pushing the sector’s traditional suppliers – coal miners – out of the market.
On average the share of coal in Russian power generation is about 20% – less than half the world average of 50%.
But the luxury of cheap gas may soon end – foreseeing the changes, generator IES Holding, has already increased its share of coal in generation from 2% to 7% according to Vice President, Eduard Smelov.
“Gas prices are going to increase. By 2011 we will have market pricing – coal will be much cheaper.”
Electricity producers want long term contracts – of up to 10 years – something the coal industry resists. Coal prices depend on the charges of Russian monopolies – especially the cost of transport by Russian Railways.
If their costs rise, coal producers want to be free to raise their prices. And shifting more coal sales to export, is not an answer according to Oleg Pertsovsky from Strategy and Corporate Development at SUEK.
“For the foreign market we have the huge drop in prices. At the same time the costs continue to grow. On average the export market becomes much less interesting than it was before, so currently the coal producers face very low margins on both markets.”
Coal producers are trapped between prices set by market forces and costs set by the state.
Source: Russia Today (http://www.russiatoday.com/Business/2009-06-19/Coal_outlook_darkens_as_producers_look_for_pricing_flexibility.html)
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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- The State Trading Corporation of India Ltd
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- Indogreen Group - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Indian Energy Exchange, India
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- Edison Trading Spa - Italy
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- Romanian Commodities Exchange
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- Indonesian Coal Mining Association
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- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
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- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
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- Agrawal Coal Company - India
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- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
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- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
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- The Treasury - Australian Government
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- Medco Energi Mining Internasional
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
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- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
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- Ministry of Finance - Indonesia
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- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
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- Bhoruka Overseas - Indonesia
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