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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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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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- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Bhatia International Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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