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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
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