(EnergyAsia, November 11 2010, Thursday) — Singapore’s bunker sales volume is expected to hit a record high of around 40 million tonnes this year. According to the Maritime and Port Authority of Singapore (MPA), bunker sales through the port rose 12% in the nine months to September, and are on course to break last year’s...
(EnergyAsia, November 11 2010, Thursday) — US-based Energy Report Alert has announced the release of the annual World Coal Outlook for 2010. The book has the following observation of the world coal markets: Coal is the fuel for generating over 41% of world electricity supply. The generation technologies are well established, fuel is abundant, and...
(EnergyAsia, November 11 2010, Thursday) — Conal Holdings Corp. expects to begin building its $450 million coal-fired power plant in General Santos city in southern Philippines early next year. It has just launched the detailed design and engineering phase for the 200MW coal-fired power plant in time for it to be completed and operational in...
(EnergyAsia, November 11 2010, Thursday) — Indonesian IT mobile infrastructure company Inovisi Infracom has announced plans to provide e-commerce services to coal traders and mine operators. The global coal trade is conducted mostly through phone, fax, e-mail, face-to-face meetings or networking events. In recent years, major e-commerce sites such as Hong Kong-based Alibaba.com and NASDAQ-listed...
(EnergyAsia, November 11 2010, Thursday) — Never mind that it doesn’t have guaranteed coal supplies, Aboitiz Power Corp is pushing ahead with plans to invest in a US$400 million 200MW coal-fired power plant in the southern Philippine city of Davao. CEO Erramon Aboitiz is convinced his company will secure the coal as he focuses on...
(EnergyAsia, November 10 2010, Wednesday) — Singapore Exchange (SGX) said it has successfully launched clearing of its over-the-counter (OTC) Indonesian sub-bituminous coal swap contract on November 3. Brokered by Ginga Petroleum, the first trade worth US$1.2 million was concluded between Mercuria Energy Trading and RWE Supply & Trading. Each contract offers the equivalent exposure of...
(EnergyAsia, November 10 2010, Wednesday) — Work on Mongolia’s giant copper-gold project Oyu Tolgoi could be delayed if its two foreign stakeholders are unable to resolve their differences over how it should be financed and developed. Vancouver, Canada-based Ivanhoe Mines Ltd has a 66% stake in Oyu Tolgoi in a joint venture with the...
(EnergyAsia, November 10 2010, Wednesday) — The rapid growth of Vancouver, Canada-based SouthGobi Resources Ltd over the last two years underlines the potential of Mongolia’s coal industry. Thanks to its production of 1.3 million tonnes of coal in southern Mongolia, the company reported revenues of C$36 million last year, up from only C$3 million in...
(EnergyAsia, November 10 2010, Wednesday) — A further rise in coal prices could threaten the profitability of Malaysia’s main electricity company Tenaga Nasional Bhd. The company’s operating margins tend to thin on higher coal prices. For the fourth quarter to August 31, it posted a net profit of RM388.4 million on revenue of RM7.87 billion....
(EnergyAsia, November 10 2010, Wednesday) — Malaysia’s largest power company, Tenaga Nasional Bhd (TNB), is looking to raise up to RM4 billion by the middle of next year to help fund the construction of a 1,000MW coal-fired power plant. (US$1=RM3.08). It plans to award the contract for the engineering, procurement and construction works for the...
(EnergyAsia, November 10 2010, Wednesday) — Two Chinese coal miners reported increases in their third-quarter profits amid higher production as the world’s fastest-growing major economy continues to expand. China Shenhua Energy Co said its net income for the quarter rose 11% on year to 9.7 billion yuan. (US$1=6.65 yuan). Its sales rose 30% on year...
(EnergyAsia, November 10 2010, Wednesday) — China National Coal Group said it planning to raise its coal production by 20% to 150 million tonnes this year. It will look to produce 38 million tonnes of raw coal this quarter. The increase corresponds with plans by the Chinese coal industry to raise output by 200...
(EnergyAsia, November 9 2010, Tuesday) — Australia produced a record 142.9 billion cubic feet of coal-seam gas or coalbed methane, up 39% from a year earlier. It now accounts for 13% of total gas supply in the country, said the Canberra-based Australian Petroleum Production & Exploration Association (APPEA). Thanks to increased investment, conventional gas sold...
(EnergyAsia, November 9 2010, Tuesday) — Upgrading technology will enable Indonesia’s coal industry to compete on the international markets, said UK energy consulting firm Wood Mackenzie. In a paper, “Upgrading Indonesian coal margins”, it said that while coal upgrading technology has yet to be proven, the race is on as there is great commercial potential....
(EnergyAsia, November 9 2010, Tuesday) — Wary of being over-dependent on its mining sector, Mongolia is selling off some of its mining assets to private companies while seeking investments to develop the country’s infrastructure. The government is looking to sell off shares in the Erdenet Mining Corp, a Mongolian-Russian copper-producing joint venture, the Tavan Tolgoi...
(EnergyAsia, November 9 2010, Tuesday) — Chinese coal company Blackgold International plans to raise A$58.5 million from a listing on the Australia Securities Exchange to expand its mines in China and acquire a coal-trading arm. (US$1=A$0.99). Blackgold expects to raise its coal sales by 2.7 million tonnes a year by 2012 if it is able...
(EnergyAsia, November 9 2010, Tuesday) — Norway’s REC last week officially opened one of the world’s largest integrated wafer, cell and module manufacturing plants in Singapore to support the solar energy industry. At S$2.5-billion, the plant is the largest clean tech investment ever made in Singapore and the third largest foreign greenfield investment ever undertaken...
(EnergyAsia, November 9 2010, Tuesday) — Queensland state has invited private companies to bid for a 99-year lease to operate the Abbot Point coal terminal. The 21-million-ton terminal is being expanded to handle 50 million tons of coal a year to meet the demand of Australia’s main coal-producing region, the Bowen Basin. The lease, on...
(EnergyAsia, November 9 2010, Tuesday) — Australia’s Pan Asia Corporation Limited said it has made its first shipping coal shipment from the Nadvara coal mine in Indonesia’s East Kalimantan. Pan Asia delivered the 51,616-tonne cargo under a four-year offtake agreement between it and Innovation West with Noble Mineral Resources Limited as part of a total...
(EnergyAsia, November 9 2010, Tuesday) — French energy major Total said it and China Power Investment Corporation (CPI) have agreed to study the construction of a world scale coal-based petrochemicals plant in coal-rich Inner Mongolia. The two companies signed a letter of understanding (LOU) in Paris last week during the state visit of Chinese President,...
(EnergyAsia, November 8 2010, Monday) — Faced with rising domestic energy demand, Vietnam is looking to reduce its coal exports by a third this year with the ultimate goal of halting all shipments after 2015. The move to cap exports to 22 million tonnes is intended to ensure that the country’s power plants have first...
(EnergyAsia, November 8 2010, Monday) — Aboitiz Power is looking to build a 200-megawatt coal-fired power plant in Davao City in southern Philippines to diversify its energy business. Expected to start up by mid-2014, the circulating fluidised-bed coal power plant represents a break from building hydropower plants for the company. Known for its focus on...
(EnergyAsia, November 8 2010, Monday) — Russian Railways said it has started a new service delivering coal from Mongolia to the Russian Pacific Coast for shipment to Asia Pacific markets. The service began last month with a goods train leaving Mongolia’s Ulan Bator station for Russia’s Vostochny port for the first time, with 30 wagons...
(EnergyAsia, November 8 2010, Monday) — With a war chest fortified by last month’s US$650 million initial public offering in Hong Kong, Mongolia Mining Corp is setting its sight on acquiring natural resources companies, particularly those producing coal and iron ore. The Mongolian firm, the first to list on the Hong Kong Stock Exchange, will...
(EnergyAsia, November 8 2010, Monday) – Global coal production could peak next year or shortly after that, according to an academic research paper that projects a protracted and steep decline in mining activities. The industry now produces seven billion tons of coal annually, but the ongoing depletion of mines means it will be difficult to...