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Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
 Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $100 a tonne by mid-2010. Coal prices fell sharply in September last year from historical highs above $200 a tonne, delivered Amsterdam-Rotterdam-Antwerp (DES ARA), mostly on fears of a deep and protraced global depression. This year they have remained around $65-$75. Now they are seen likely to rise as they follow gains in "coal currencies" such as the Australian dollar, South African rand and Colombian peso against the U.S. dollar, according to Bank of America Merrill Lynch's latest Global Energy Weekly report.
Producers' need to protect margins will compel them to seek dollar-denominated sales prices that fully reflect their costs. This will help push coal prices higher. The coal market will rebalance firmly in 2010 primarily due to demand growth in Asia, which will outstrip demand in the West. The current oversupply will be soaked up very quickly, the Bank of America report says.
Even the most doggedly bearish European utilities, traders and coal producers have in the past two weeks stopped expecting a fall to below $60.00 for DES ARA prices. "The short answer is yes, we expect the worst to be over and prices to increase, even if progressively, going forward," said Emmanuel Fages, Carbon and Coal Analyst at Societe Generale. He said that in the very short-term, however, there was good availability of supply in the thermal coal market. SocGen has lowered its short-term forcasts for cost, insurance and freight prices in Amsterdam-Rotterdam-Antwerp (CIF ARA) to $73.00 per tonne in the fourth quarter from $82.00 and to $65.00 per tonne for South African Richards Bay coal from $72.00.
In its latest Commodities Review SocGen says coal prices will not fall now but any rise will be limited in the short term due to high stockpiles in Europe and falling Chinese imports. International Energy Agency coal analyst Brian Ricketts said there was even room for coal to ease before rising. "It's not a bottom for prices, it's a plateau which has been reached. There is further for coal to fall," Ricketts said. "If you're optimistic, then the current plateau is a starting point from which prices can rise," he added. One producer source said the direction for European prices now was up. "We really do think European prices will move back above $100 a tonne by June. Prices have hit the bottom and will start to slowly move higher from now," the source said A major European utility source said: "If you look at supply for next year, there will still be tightness and strong Asian demand. It looks very likely that Europe could be under-supplied."
SWING PRODUCERS
South Africa and Russia have acted as swing producers by diverting substantial tonnage to Asia from Europe rather than cutting output. They are likely to continue to do so next year even when European demand is expected to return to normal. At least 23 million tonnes of South African and Russian exports were diverted to India and China from Europe this year. European utilities next year will have to compete with Asian end-users and pay higher prices to secure coal, producers said. Rail capacity constraints mean South African exports for 2010 may recover only slightly from this year's drop to 60 million tonnes out of 80 million tonnes total export capacity. Exports from Russia and Colombia, the two other key suppliers to Europe, stabilised at around 63 million tonnes and are unlikely to rise next year.
If European demand returns to normal by mid-2010 -- it is picking up already in France and Germany -- and exports continue to swing towards Asia, prices must rise, analysts, producers and consumers say. Nobody is predicting a return to 2008's record prices but delivered Europe levels of $100 and free-on-board South Africa, Russia and Australia's Newcastle prices of $70.00-80.00 would allow all producers to sell above their cash costs.
Sourced from Reuters
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Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
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- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- PTC India Limited - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
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