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Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
 Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president and chief executive officer (CEO) of the company, said Indian imports of coal rose a sharp 21 per cent in February, “nearly offsetting reduced demand from China” He made the comments in an earnings call with analysts as reproduced in Seeking Alpha last week. His comments show that despite attempts by the Indian government to push production of domestic coal, global miners see no cause for worry.
“Through March, Indian imports were up 6 million tonnes compared to the prior year, as utilities rebuild stockpiles and domestic production fails to keep pace with demand,” Kellow added.
The ministry of coal has not yet released data on the total imports by India for 2017-18. But, according to a reply to a question in Parliament, the total import of both coking coal, used by the steel industry, and of non-coking coal, used by other sectors like power plants, has come down 6.37 per cent as of March 31, 2107. Peabody’s upbeat note indicates the trend is likely to be reversed.
The US firm had filed for bankruptcy protection in April 2016, but the revival of the global market for minerals, including coal, has turned it around. US Energy Secretary Rick Perry on a recent tour of India had remarked that he was pleased about coal imports that had begun from the US to India. India and other Asian countries are also importing other energy fuels, including oil and gas, from the US. Perry said some of those imports would cut the adverse US trade deficit with countries like India, which had a surplus of $22 billion in balance of payments with the US.
Global miners like Peabody have also benefited by locking themselves into fixed price agreements for selling coal to India among other countries. This will help the companies to buffer themselves against a dip in coal prices that could upset their balance sheets. In the same call Kellow said, “Peabody has secured additional fixed price agreements to capitalise on strong thermal processing levels. We now have approximately 5.5 million tonnes locked in for 2018 at an average price of $76 per short tonne and some 2 million tonnes committed to 2019 at an average price of $75 dollars per short tonne.”
This means Indian importers of coal from the mining company, mostly port-based power plants and steel companies, will not be able to negotiate a softer price for the fuel even if local producer Coal India produces more and plans to reduce the price of its output. Peabody’s woes had come about because of a sharp drop in coal prices that had left it with an unserviceable debt pile of $10.1 billion.
However, in the earnings call, the company made no mention of plans to invest in Indian coal mines. Reversing a 44-year-old policy of keeping coal mines under the government, the ministry has opened new mines for investment by commercial miners.
Indian demand for coal is on course to compensate for the dip in demand from China. Data from the coal ministry shows, growth in supply of coal to the power sector was 7.2 per cent in 2017-18. “As estimated by the ministry of power, the pan-India growth of coal-based generation would be 5.4-5.7 per cent in the current year and the next four years,” the ministry has told Parliament.
Source: Business Standard
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Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
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Showing 1731 to 1735 news of total 6871 |
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- Bharathi Cement Corporation - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Minerals Council of Australia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
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