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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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Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
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- Mjunction Services Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
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