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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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Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
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