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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, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
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- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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