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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, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
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- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
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- Eastern Coal Council - USA
- VISA Power Limited - India
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- Tamil Nadu electricity Board
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- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
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- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
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- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
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- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
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- Kumho Petrochemical, South Korea
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- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
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- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
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- Economic Council, Georgia
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- India Bulls Power Limited - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
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- Maharashtra Electricity Regulatory Commission - India
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- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Central Electricity Authority - India
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- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
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- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Australian Coal Association
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
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- Thiess Contractors Indonesia
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- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
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- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
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- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
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- Baramulti Group, Indonesia
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- Indogreen Group - Indonesia
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