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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- The University of Queensland
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- MS Steel International - UAE
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
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