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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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Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
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- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- The University of Queensland
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
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