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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- The University of Queensland
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
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