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Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
 US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains supply, president Rick Navarre said on Tuesday.
“The demand for met and thermal coal from the industrialisation of developing countries will continue to outpace the supply for the foreseeable future,” he told analysts and investors on a conference call.
Navarre described the mood in Pacific coal markets as “bullish”, while the domestic US market is “brightening”, as inventories are drawn down, he commented.
Metallurgical coal supplies are tight, and customers are pulling forward shipments where possible, and paying premiums for prompt deliveries.
Peabody, which mines steam and steelmaking coal in Australia and the US, also recently sold some metallurgical coal on the spot market to Chinese buyers at more than $200/t, Navarre added.
This is compared with the April 2009 settlements of $129/t for high-quality hard coking coal.
“This obviously tells you how tight the supply situation is and bodes well for the pending settlements for the coming year,” Navarre said.
China's total coal imports more than tripled in 2009, reaching 125-million tons, while India reached record coal import levels of 80-million tons.
“It's clear that China, India and emerging Asia remain at a full-throttle growth pace that continues to dwarf the US and Atlantic,” Peabody CEO Gregory Boyce commented.
China is “the major force reshaping global resource markets”, he said.
| “It's clear that China, India and emerging Asia remain at a full-throttle growth pace that continues to dwarf the US and Atlantic” – CEO, Peabody |
Boyce asserted that the strong demand levels from China are sustainable.
“We are in a new paradigm and I am convinced that China will remain a significant importer based on domestic needs, strategic intent and aggressive actions to acquire resources beyond its borders.”
In 2010, some 60-million tons to 70-million tons of coal production or imports will be needed just to replenish low inventories in China and India, not to mention the hundreds of millions of tons needed to satisfy added power plants and steel mills, Boyce said on the conference call.
BETTER THAN EXPECTED
Peabody reported fourth-quarter net income of $92,2-million, which was lower than the same period of the previous year, but above analyst estimates.
The company will continue to focus on high-growth Pacific markets while expanding Australian volumes and global trading activities, Boyce said.
In 2009, Peabody sold 243,6-million tons of coal, compared with 255-million tons in 2008.
Australian volumes totalled 22,3-million tons, including 6,9-million tons of metallurgical coal and 9,6-million tons of seaborne thermal shipments, the company said.
For 2010, Peabody is targeting total sales of 240-million to 260-million tons, including trading and brokerage volumes.
Australian sales are expected to increase to between 26-million and 28-million tons, including 7,5-million to 8,5-million tons of metallurgical coal.
US volumes are expected to be 185-million to 195-million tons.
Source: Mining Weekly
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Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Neyveli Lignite Corporation Ltd, - India
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- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Dalmia Cement Bharat India
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- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Australian Coal Association
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- The University of Queensland
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
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