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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
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
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