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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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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
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