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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Ambuja Cements Ltd - India
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- Sindya Power Generating Company Private Ltd
- The University of Queensland
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- Economic Council, Georgia
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- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- SMC Global Power, Philippines
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- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
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- Bharathi Cement Corporation - India
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- Kaltim Prima Coal - Indonesia
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- Baramulti Group, Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Parliament of New Zealand
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- Ministry of Finance - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
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- Samtan Co., Ltd - South Korea
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- Singapore Mercantile Exchange
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- GAC Shipping (India) Pvt Ltd
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- Electricity Authority, New Zealand
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- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
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- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
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- PTC India Limited - India
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- The Treasury - Australian Government
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- Sarangani Energy Corporation, Philippines
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- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
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- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Indonesian Coal Mining Association
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- GMR Energy Limited - India
- Wilmar Investment Holdings
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- Energy Development Corp, Philippines
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- Indian Oil Corporation Limited
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- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
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- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
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- CNBM International Corporation - China
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
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- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
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- International Coal Ventures Pvt Ltd - India
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- VISA Power Limited - India
- Uttam Galva Steels Limited - India
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- Planning Commission, India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
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- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Medco Energi Mining Internasional
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- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
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- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
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