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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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Thursday, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
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Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
Wednesday, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
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Showing 1771 to 1775 news of total 6871 |
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- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- PTC India Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Singapore Mercantile Exchange
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
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