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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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Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
Friday, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
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Showing 1776 to 1780 news of total 6871 |
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- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Australian Coal Association
- The University of Queensland
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
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