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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 $92,2-million, which was lower than the same period of the previous year, but above analyst estimates.
The company will continue to focus on high-growth Pacific markets while expanding Australian volumes and global trading activities, Boyce said.
In 2009, Peabody sold 243,6-million tons of coal, compared with 255-million tons in 2008.
Australian volumes totalled 22,3-million tons, including 6,9-million tons of metallurgical coal and 9,6-million tons of seaborne thermal shipments, the company said.
For 2010, Peabody is targeting total sales of 240-million to 260-million tons, including trading and brokerage volumes.
Australian sales are expected to increase to between 26-million and 28-million tons, including 7,5-million to 8,5-million tons of metallurgical coal.
US volumes are expected to be 185-million to 195-million tons.
Source: Mining Weekly
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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
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- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
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- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
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- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
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- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
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- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Parliament of New Zealand
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- Independent Power Producers Association of India
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- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- The University of Queensland
- Bhatia International Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
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- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
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- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
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- White Energy Company Limited
- IEA Clean Coal Centre - UK
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- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
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- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
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- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
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- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
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- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
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- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
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- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
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- Kideco Jaya Agung - Indonesia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
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- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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- Marubeni Corporation - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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