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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, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
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- Timah Investasi Mineral - Indoneisa
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- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
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- Thai Mozambique Logistica
- Parliament of New Zealand
- SMC Global Power, Philippines
- Interocean Group of Companies - India
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- Chamber of Mines of South Africa
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- Bangladesh Power Developement Board
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- Savvy Resources Ltd - HongKong
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- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
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- Parry Sugars Refinery, India
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- Central Electricity Authority - India
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- Gujarat Electricity Regulatory Commission - India
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- New Zealand Coal & Carbon
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- The State Trading Corporation of India Ltd
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- Leighton Contractors Pty Ltd - Australia
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- Carbofer General Trading SA - India
- London Commodity Brokers - England
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- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
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- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- White Energy Company Limited
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- The University of Queensland
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- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
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- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
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- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
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- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
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- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Planning Commission, India
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- Ambuja Cements Ltd - India
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- Ceylon Electricity Board - Sri Lanka
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- Kepco SPC Power Corporation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
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- GAC Shipping (India) Pvt Ltd
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- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
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- Singapore Mercantile Exchange
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