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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
 China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut in an attempt to consolidate the sector expired.
A major prop for global coal prices this year quietly expired at midnight on Monday, the deadline for small, dangerous mines in China's top producing province to merge into larger operators.
But analysts warn not to expect a quick supply filip after the Aug. 31 deadline for mines in Shanxi to join forces to be allowed to reopen, as the process of consolidation and continued pressure on the sector's appalling safety record constrains output.
Shutdowns in Shanxi earlier this year were a lucky break for coal suppliers in Australia, Indonesia and Vietnam, helping turn China into a net importer just as the global financial crisis demolished demand from other countries.
Now the province, source of 25% of China's coal, is poised to let many small mines reopen.
But a recent fatal explosion at a mine in Shanxi underlines that progress on safety is far from assured, while mines may be slow to return to normal production after the enforced mergers.
"Signing a framework agreement for a merger is much easier than actually finalising the price of the deal," said Wang Ye, an analyst at CITIC Securities. "It's easy to get engaged, but marriage is a totally different matter."
Small mines contribute roughly a third of Shanxi's coal output. For coking coal, the more valuable grade used by steelmakers, small mines contribute even more, as most coking coal resources are controlled by small mines, analysts said.
As the consolidation drive got underway after a major mine blast in late February, production from Shanxi failed to show the typical sharp recovery from the Lunar New Year holiday trough.
Output for Shanxi in the first seven months of 2009 fell by 12%, or 42 million tonnes, to 318 million tonnes -- a decline almost equal to the huge rise in imports that flipped China from a net exporter to a major net buyer of coal.
The world's top producer and consumer shipped in a net nearly 50 million tonnes of coal in the seven months to July, compared with 4.7 million tonnes of net exports in all of 2008.
"The major bullish case for thermal coal from a China perspective has been the supply constraints in Shanxi," said Scotia Capital China strategist Na Liu in a note to clients.
But with the mergers now having taken place, this bullish factor for global markets could be removed.
The shutdowns hit Shanxi hard, making it the only province to see its economy shrink in the first half of this year. That could prompt local officials to take a more lenient view of restarts at small mines, which make up 80%of the province's total.
One of China's top power producers, Huadian, expects Shanxi to produce 400 million tonnes of coal in the second half of the year, about 60% more than in the first half of the year and about 17 percent up from the same months of 2008.
If that proves accurate, Shanxi would pump enough coal into the Chinese market to deflate the appetite for imports. Liu said a third of Shanxi's output would be coking coal, so the impact would not be confined to the thermal coal market.
While the pace of output in Shanxi has been picking up since its low in January, it's not clear that this can be maintained.
"The fast growth we've seen in the past few months is not going to be sustainable," said Pierre Lau, a Citigroup analyst.
In the short term, the central government may keep a lid on further expansion before the Oct. 1 anniversary of the founding of the People's Republic of China, Lau added.
"Safety will be the focus before Oct. 1. I won't be surprised to see growth in Shanxi's coal output slow down a bit," he said.
CONSOLIDATION TO TAKE TIME
The hilly province in China's north, occupying less than 2 % of the country's territory, produced a quarter of China's coal in 2008. As well as a soot-blackened landscape and mine blasts that kill dozens or more every year, the booming coal industry has created a class of newly rich Chinese, conspicuous in their Hummers and Mercedes.
But standards have yet to show much improvement. Last week, an explosion at a mine being built in Shanxi killed 14 miners just as China launched a month of nationwide safety inspections.
"The accident will definitely affect small mines and those mines currently under construction," said an industry official in Shanxi, who expects production restrictions for the next month.
And the crackdown on small mines is not over. Shanxi still wants to cut the number from 2,600 now to 1,000 by end of 2010.
To sift out the smaller, less efficient operators, it will raise the minimum mine shaft capacity to 900,000 tonnes of coal a year, up from 360,000 tonnes today, a government document showed.
In addition, many small mines are expected to go through expansion and upgrading work, which will take as long as a year or two, Lu Ping, an analyst at China Merchants Securities, said.
"At the current stage, big companies are just carving up the province's coal resources."
Big state-owned companies including coal miners and power producers are rushing to buy the small mines. Shanxi Coal Import & Export Group and Shanxi Coal Transportation and Sales Group , which do not yet produce a tonne of coal, both have the ambition of hitting 50 million tonnes a year, local media reported.
Source:MineWeb
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Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
Wednesday, 16 September 09
NAPOCOR GETS 3 OFFERS IN COAL TENDER
ABS-CBN news reported that, The Philippines' state-run National Power Corp. (Napocor) said on Wednesday it received offers from 3 Indonesian firms ...
Wednesday, 16 September 09
S.KOREA KOSEP BUYS 1.06 MLN T COAL-SOURCE
* 6,080 kcal/kg at $63-65, 4,900-5,350 kcal/kg at $56-58
* Initially about 5 mln T offered for tender
Reuters reported that, Korea South ...
Tuesday, 15 September 09
CHINA COAL EXPORT ROSE M-O-M FOR THE STRAIGHT 3 MONTHS
Alibaba reported that, In the January-August period, China coal exports slid by 55.9% to 14.83mln tons month on month. In August, China exported 1.9 ...
Monday, 14 September 09
CIL MAY REDUCE FLOOR PRICE OF E-AUCTION COAL
After receiving a lukewarm response to the forward e-auction started in two of its subsidiaries, Coal India Limited (CIL) is mulling to reduce the f ...
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- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
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