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Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
 China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Japanese and South Korean mills, two Chinese industry groups said.
“Domestic demand for coking coal will rise moderately next year, while global demand may gain faster, intensifying competition,” Wu Chenghou, senior adviser of the China Coal Transportation and Distribution Association, said in an interview.
China’s coking coal imports rose 12-fold this year, boosting sales of BHP Billiton Ltd. as the government closed smaller, unsafe mines. Prices may jump by between 23 percent and 38 percent in 2010, as global demand rebounds from the deepest recession since the 1930s, according to Macquarie Securities Group, JPMorgan Chase & Co. and Morgan Stanley.
“China doesn’t have enough domestic supply to meet increasing demand from its steelmakers,” said Zhang Bochun, secretary general of the Hebei Coking & Chemical Industry Association. Mills would “compete with foreign rivals,” he said in an interview.
Chinese imports in 2010 may be similar to this year, Zhang said. Hebei province buys the most coking coal in China, according to industry researcher Mysteel.com. The nation’s $586 billion stimulus spending is spurring automakers and property developers to buy more steel, leading Baoshan Iron & Steel Co. and Chinese mills to expand coal consumption to feed furnaces.
Intense Competition
Import demand by China, the world’s biggest coking coal buyer after Japan, may rise 5.6 percent to 38 million metric tons next year from an expected 36 million tons this year, Macquarie analysts led by Jim Lennon said in a Dec. 15 report. Domestic coal prices in the nation may increase 14 percent next year, Citigroup Inc. said in a Dec. 4 report.
Japan’s purchases may jump 14 percent to 58 million tons, and South Korea’s demand may rise 17 percent to 21 million tons next year, Macquarie said.
“BHP and other suppliers may add exports to Japan and South Korea because demand is picking up there,” said Zhang Weifang, a Shanghai-based analyst of Mysteel.com. “The Chinese would probably have to pay higher spot prices, compared to their foreign rivals who would pay lower contract prices.”
China would be demanding more high quality hard-coking coal in the future as it expands mills, BHP Billiton said in a September slide presentation. The nation this year “emerged” to fill a demand gap for coking coal, the world’s largest mining company said.
World’s Worst Mines
The Chinese government started closing small coal mines in 2008 to improve their safety records after 3,770 workers were killed in 2007, making the mines the world’s deadliest. China produced 705.1 million tons of coking coal last year, according to Beijing Antaike Information Development Co.
Congestion on railways is also boosting imports by steelmakers which have furnaces near ports, said Mysteel’s Zhang.
These mills may get 20,000 tons to 30,000 tons of coal monthly by railway, she said. A ship can carry 70,000 tons, and take just half a month from Australia to China, she said.
Benchmark contract prices may surge to $180 a ton from $129 a ton, Macquarie forecast. JPMorgan and Morgan Stanley expect prices to jump to $160 a ton.
Steel demand growth in China will outpace supply in 2010, Deutsche Bank AG said Dec. 11. Steel output may exceed 600 million tons next year, after reaching a record 570 million tons this year, the China Securities Journal reported Dec. 17, citing Ma Guoqiang, general manager of Baoshan Steel Co., the nation’s largest steelmaker.
Source: Bloomberg
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Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
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- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- White Energy Company Limited
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- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
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- VISA Power Limited - India
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- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Coal and Oil Company - UAE
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- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
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- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
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- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
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- Energy Link Ltd, New Zealand
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- Ministry of Transport, Egypt
- Parliament of New Zealand
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- Goldman Sachs - Singapore
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- Australian Coal Association
- Jaiprakash Power Ventures ltd
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- Attock Cement Pakistan Limited
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- Kohat Cement Company Ltd. - Pakistan
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- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
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- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
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- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Heidelberg Cement - Germany
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- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
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- Indo Tambangraya Megah - Indonesia
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- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
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- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
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- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
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- PowerSource Philippines DevCo
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- Tata Chemicals Ltd - India
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- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
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- Semirara Mining and Power Corporation, Philippines
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- Maheswari Brothers Coal Limited - India
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- Miang Besar Coal Terminal - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
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- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
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- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
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- Orica Australia Pty. Ltd.
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- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
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- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
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- Independent Power Producers Association of India
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- Pipit Mutiara Jaya. PT, Indonesia
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