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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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Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
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- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- The University of Queensland
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
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