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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, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
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- Central Java Power - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- India Bulls Power Limited - India
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- ASAPP Information Group - India
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- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
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- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Indonesian Coal Mining Association
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- Petron Corporation, Philippines
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- White Energy Company Limited
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- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
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- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
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- Georgia Ports Authority, United States
- Australian Coal Association
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