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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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Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
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Showing 1736 to 1740 news of total 6871 |
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- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- The University of Queensland
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
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