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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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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Planning Commission, India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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