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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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- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Deloitte Consulting - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
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