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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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Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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Showing 6461 to 6465 news of total 6871 |
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- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
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