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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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Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- White Energy Company Limited
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Planning Commission, India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
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