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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, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
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- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
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- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
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- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
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- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
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- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
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- Savvy Resources Ltd - HongKong
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- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
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- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Cigading International Bulk Terminal - Indonesia
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- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
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- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
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- Alfred C Toepfer International GmbH - Germany
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- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
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- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
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- GN Power Mariveles Coal Plant, Philippines
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- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
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- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- White Energy Company Limited
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- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- India Bulls Power Limited - India
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- Planning Commission, India
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