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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, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
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Showing 1766 to 1770 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
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