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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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Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- White Energy Company Limited
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