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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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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- The University of Queensland
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
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