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