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Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
 * Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand may cut exports from Q3
Cement makers worldwide are buying petroleum coke or petcoke wherever possible to replace more expensive steam coal as a fuel and raw material, cement industry sources and traders say.
As a result petcoke prices have risen $10.00 a tonne to $35.00 during the past month and are likely to reach parity with coal prices later in the year.
"What we're seeing worldwide is an overall reduction in demand for cement with some spots improving, but demand for petcoke is still pretty good because of reduced production and because petcoke prices are still attractive compared to coal," said Bill Day, spokesman for refiner Valero, the largest petcoke producer in the United States.
Total global demand for cement has fallen due to the economic slowdown but there are pockets of continued strong demand such as China and India.
Even where cement demand has fallen in Europe, cement makers are trying to replace coal with cheaper petcoke.
"Definitely for the past six months and noticeably for the past three months there has been a push in Europe for cement plants to take more petcoke, if they can get it," said a senior cement source who asked not to be named.
"They are taking petcoke mostly on long-term contracts but the spot price is attractive at $30.00-$35.00 a tonne FOB. Because of petcoke's higher energy content it works out cheaper than coal even at the same price per tonne, but there is little spot to buy," he said.
At FOB prices of around $35.00 FOB U.S. Gulf with freight of $45.00-$55.00 the delivered cost of petcoke is higher than coal on the face of it but the real cost due to petcoke's energy content is lower, traders said.
Up to 2004 cement makers and many European power plants were taking as much petcoke as they could instead of coal on grounds of price, despite petcoke's high sulphur content.
PARITY
Sharply increased petcoke prices due to strong domestic demand in 2007 made spot petcoke uncompetitive against coal. This scenario is likely to be repeated later this year because U.S. government fiscal stimulus packages including road-building programmes will boost demand for petcoke to make both asphalt and concrete, cement sources and traders said.
But petcoke prices have been rising since February and are set to reach parity with steam coal prices by Q3 because domestic U.S. demand is increasing at the same time as supply of the heavy, high-sulphur crude oil used to make petcoke is shrinking, they said.
Petcoke typically has higher energy content than steam coal, often 7,500 kilocalories per kilogramme (kcal/kg) compared with around 5,700-6,000 kcal/kg for steam coal. This makes it cheaper to ship and to burn than coal.
Petcoke's sulphur content is usually much higher at 1.5 - 3.00 percent or more, compared to 1.00 percent or less for coal.
"European cement makers would like to be able to build some inventories of petcoke now because they fear prices will rise sharply but they are simply not allowed to tie up cash in stocks," the cement source said.
Cement demand in Southern Europe particularly Spain, Portugal, Greece and Italy has plunged due to depression in construction. Cement makers are still producing at lower rates and while their total energy demand has dropped, they have taken the same or more petcoke and cut back other fuels such as coal, cement sources said.
"There is huge demand for petcoke in India, while it continues to be competitive with coal. But there is less available now than three months ago," an Indian trader said.
Source: Reuter (http://in.reuters.com/article/domesticNews/idINL109243920090701?sp=true)
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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
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- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Planning Commission, India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
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