(EnergyAsia, May 4 2011, Wednesday) — Japan’s earthquake-tsunami-nuclear disaster of March 11 will have a major impact on the country’s industrial production and Asian economies, and the possibility of “large” downside risks over coming months, said the International Monetary Fund (IMF). In a special report, IMF economists suggest industrial production will be particularly hard hit...

(EnergyAsia, May 4 2011, Wednesday) — NYSE-listed Puda Coal Inc said it has received a preliminary non-binding proposal from its chairman, Ming Zhao, to acquire all its outstanding common stock shares in a private transaction at up to US$12 per share in cash. Mr Zhao, who is under investigation for alleged unauthorised transactions in the...

(EnergyAsia, May 4 2011, Wednesday) — The coal industry in Australia’s Queensland’s state remains hobbled by the inability of Dalrymple Bay, Australia’s largest export terminal for coking coal, to resume full operations as a result of damages suffered from months of floods and cyclones. Queensland, which accounts for 90% of Australia’s steel-making coal exports, is...

(EnergyAsia, May 4 2011, Wednesday) — The Chinese government is aiming to build up an emergency stockpile of five million tonnes of steam coal by end-May to guard against future supply shortages. Ironically, news of the impending move contributed to the tightening of supplies and a run-up in thermal coal prices higher to a four-month...

(EnergyAsia, May 4 2011, Wednesday) — China Shenhua Energy Co Ltd is planning to invest 10 billion yuan to build a coal processing plant near the border between China and Mongolia, according to the Wulate Middle Banner commission of development of reform. (US$1=6.5 yuan). The proposed plant, to be located in Ganqimaodu Customs Processing Park,...

(EnergyAsia, May 4 2011, Wednesday) — Bumi Resources, Asia’s biggest thermal coal exporter, expects higher-than-expected coal prices to boost its revenue for 2011. Bumi said the average selling price for coal may reach at least US$80 per tonne this year, up from its earlier budgeted price of US$77 per tonne. With that, Bumi has raised...

(EnergyAsia, May 3 2011, Tuesday) — The US could raise its coal exports to Asia by 70% to more than 20 million tonnes this year, thanks to a weaker dollar, increased demand from Japan and a worsening supply squeeze in the region, said US coal producer Xcoal Energy & Resources. This would continue the recent...

(EnergyAsia, May 3 2011, Tuesday) — China’s coal production rose at a faster rate than sales in the first quarter compared with the same period last year, said the China Coal Industry Association. The country’s coal production rose 60.6 million tones or nearly 8.3% to 792 million tonnes during the quarter while sales rose 48.5...

(EnergyAsia, May 3 2011, Tuesday) — Contrary to the claims of industry promoters, natural gas drawn from shale isn’t cleaner than coal, said researchers at Cornell University in the US. A study by a group of researchers led by Robert Howarth published in a peer-reviewed scientific journal found that more greenhouse gases are emitted by...

(EnergyAsia, May 3 2011, Tuesday) — Khalid A. Al-Falih, president and CEO of the Saudi Arabian Oil Company (Saudi Aramco), has invited South Korea to expand economic ties and increase its investments in the energy sector in Saudi Arabia. Speaking to the Korean Chamber of Commerce last week, Mr Al-Falih said his country admired the...

(EnergyAsia, May 3 2011, Tuesday) — Two international banks have agreed to lend state Vietnam National Coal, Mineral Industries Holding Corp (Vinacomin) US$275 million to build a coal-fired power plant in northern Vietnam by end-2012. BNP Paribas and Bank of China signed the contract last month for the 440MW plant at Mao Khe in Quang...