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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, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
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