PERTH, June 2 (Reuters) – Asia’s thermal coal markets were
focused on Chinese demand as the world’s largest coal consumer
faces what is expected to be the worst power shortage in years.
Chinese buyers have been in the market for both Indonesian
and Australian coal as domestic prices in the world’s largest
coal producing country have shot up.
NUSA DUA, Indonesia, May 31 (Reuters) – Coal producers in
Indonesia and Australia are racing to ramp up output to capture
Asia’s booming demand for power that has quickly filled the gap
left by a drop in demand from quake-hit Japan, executives at a
conference said on Tuesday.
Exports of coal from Indonesia, the world’s top exporter of
thermal coal used to fuel power stations, were diverted to China
in the wake of Japan’s devastating earthquake and tsunami in
March, showing the hunger of the rest of Asia to soak up
available spot cargoes.
NUSA DUA, Indonesia, May 31 (Reuters) – South Korea’s East
West Power (EWP) is looking to increase coal imports from the
United States as it looks to diversify its supply sources from
Indonesia and Australia to manage rising coal costs, a company
executive said on Tuesday.
South Korean utilities, or gencos, have looked farther
afield as prices in the Pacific basin for coal from the world’s
two largest coal exporters, Indonesia and Australia have risen,
Jason Jang, EWP’s head of fuel procurement told Reuters on the
sidelines of an industry conference.
NUSA DUA, Indonesia, May 31 (Reuters) – Indonesia will lead
global growth in thermal coal exports in the next decade with
producers Bumi Resources and Adaro Energy
becoming two of the top three coal exporting companies worldwide
by 2015, energy consultancy Wood Mackenzie said on Tuesday.
The Southeast Asian country, already the world’s top thermal
coal exporter, will make up 39 percent of global increases in
coal exports, with Australia coming in a close second,
accounting for 36 percent of export growth.
NUSA DUA, Indonesia, May 30 (Reuters) – Top coal consumer
China should see import demand more than double in the next four
years and India will be close behind as both hoover up supplies
on international markets to feed rapidly growing power
industries, industry executives said on Monday.
China’s thermal coal imports could rise to 200 million
tonnes in 2015 from around 90 million tonnes in 2011, Neil Dhar,
executive vice president of trading house Noble Group ,
told the Coaltrans Asia conference.
PERTH/NEW YORK, May 27 (Reuters) – Asian spot prices for liquefied natural
gas (LNG) rose to around $13.50 per million British thermal units (mmBtu) as
demand picks up ahead of summer, but trade was limited by a lack of ships to
transport the fuel.
“Asia is still seeing demand for cargoes although prices are holding more
steady,” ICAP analysts said in a note.
PERTH/JAKARTA (Reuters) – As China tries to cope with what may be its worst power shortage in years, coal demand from the world’s biggest consumer is likely to take centre stage at one of Asia’s largest coal industry gatherings in Indonesia next week.
China will face stiff competition for coal shipped by Indonesia, the world’s biggest exporter of thermal coal, from India where demand for electricity is rising in an economy seen growing around 8.5 percent.
PERTH/JAKARTA, May 27 (Reuters) – As China tries to cope
with what may be its worst power shortage in years, coal demand
from the world’s biggest consumer is likely to take centre stage
at one of Asia’s largest coal industry gatherings in Indonesia
China will face stiff competition for coal shipped by
Indonesia, the world’s biggest exporter of thermal coal, from
India where demand for electricity is rising in an economy seen
growing around 8.5 percent.
PERTH, May 24 (Reuters) – Australia’s thermal coal prices
moved up during the past week in a thinly traded market that saw
renewed interest from some Japanese buyers after a devastating
tsunami in March cut the nation’s coal demand.
Thermal coal on the globalCOAL Newcastle index for the week
to date was $120.69 per tonne on Monday, up from $115.88 a week
earlier, but market sources said the index represented a market
with very little liquidity.
PERTH (Reuters) – Shell is to anchor the world’s biggest ship — six times heavier than the largest aircraft carrier — off Australia to supply liquefied natural gas to energy-hungry Asia in a project likely to cost over $10 billion (6 billion pounds).
Royal Dutch Shell (RDSa.L: Quote, Profile, Research) expects to start chilling gas into liquid form from around 2017 aboard the Prelude floating LNG vessel, which will be longer than four soccer fields and will be built at a shipyard in South Korea.