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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
 Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based domestic power generators in the next year. Spot prices for the fuel at Australia’s Newcastle port, a benchmark for Asia, have appreciated almost 10 per cent in November and rates at China’s Qinhuangdao port, a standard for the world’s largest coal consumer, have also seen a steady increase over the last two months.
Harried by the supply-demand mismatch in Indian coal production, a number of private sector power companies have pegged their port-based projects on overseas coal, with a specific dependence on the Indonesian variety. These include Reliance Power, which intends on using Krishnapatnam port, Essar Power, through Salaya port, and Tata Power as well as Adani Power, both of who will use Mundra Port.
“With Indian coal mining companies being unable to provide service to power producers such as NTPC, there is a huge dependence on the international market which is expected to increase as the volumes required are just not available in the country. Although long-term arrangements are being worked out, substantial amount of coal comes through the import route at present,” an analyst with InfralineEnergy Reseach and Information said.
However, with Indonesia’s thermal coal export growth likely to see a marked slowdown, importing the fuel will become more expensive for Indian firms.
Although Indonesian exports account for over 35 per cent of the global sea-borne coal market, the ability of Indonesian producers to ramp up production for sustaining export growth could be constrained by delay and regulatory uncertainties. Also, rising demand from Indonesian power producers and cautious capex programmes by major miners there, due to the global crisis, could see the prices of Indonesian coal rising in the coming months, according to a research by Citigroup.
Supply tightness is also expected to persist globally as export growth in both Australia and South Africa will be restricted due to port and rail infrastructure development. In the latter market, growing domestic demand, too, is likely to have an impact on thermal coal prices, an analysis by AME Mineral Economics suggested.
Moreover, thermal coal prices will also lent a degree of robustness as China, a study by Barclays Capital says, is likely to remain a major importer next year on the back of mine consolidation, expectation of a strong economic growth and possibility of higher taxes. In recent weeks, an increase in heating demand in China, triggered by the harshest winter in almost six decades, have spiked coal prices at Qinhuangdao port.
“Considering almost half of the coal requirement for the new coastal power projects is to be brought in from abroad, there will definitely be an impact on power companies. Although the cost of generation will increase, passing on the burden to the consumer will be tough and it will have to be absorbed by the generators themselves,” Angel Broking analyst Rupesh Sankhe said.
Although power companies have been allocated coal blocks for captive use, exploration and production from these might not happen immediately. Also, with many firms scouting for coal assets overseas, there is a dependence on spot purchases in the short-term.
“Larger players who have already secured assets abroad are unlikely to be affected and their consumers will not be hit if global coal prices rise. However, those firms who don’t have their own mines and are dependent on the market will have to bear the brunt,” Visa Group Chairman Vishambhar Saran said.
Although India has substantial non-coking coal reserves, in the range of 230 billion tonnes, there has been an increased reliance on imported coal. In 2007-08, the country imported about 28 million tonnes of non-coking coal as compared to 8.69 million tonnes in 2003-04. However, according to Citigroup estimates, India could have a combined import demand for thermal and coking coal to the tune of 140 million tonnes per year by 2013-14.
Source: Business-Standard
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Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
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- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
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- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
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- White Energy Company Limited
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
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- Independent Power Producers Association of India
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- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
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- Miang Besar Coal Terminal - Indonesia
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- LBH Netherlands Bv - Netherlands
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- Simpson Spence & Young - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
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- Commonwealth Bank - Australia
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- Samtan Co., Ltd - South Korea
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- TeaM Sual Corporation - Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
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- Economic Council, Georgia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
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- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
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- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
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- Australian Coal Association
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- Ministry of Finance - Indonesia
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- The University of Queensland
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- London Commodity Brokers - England
- Coal and Oil Company - UAE
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