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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rates and encourage longer haul journeys in the coming months. Despite a voyage time of 45 days compared with 15 from Australia, China's coking coal imports from the U.S. rose 4,800 percent in January-May 2010 from the same period last year and 85 percent from Canada, official Chinese import data shows. "This is a trade that did not exist in this quantity a year ago," Derek Langston, a director with SSY Consultancy and Research, said. North American producers able to sell their coal as either thermal or coking coal have switched their marketing efforts to China, away from the slumping domestic and European markets.
"This year the Chinese market had the capacity to start taking the high-sulphur metallurgical coal that the usual buyers weren't taking," a major U.S. coal trader said.
"Now the high-sulphur thermal coal, which used to go to European power plants, is moving to China from Baltimore as coking coal. Practically half the year is gone and there have been very few sales to Europe." Coal with a sulphur content of 1.5-2 percent which was traditionally sold to European utilities has become acceptable this year to Chinese power and steel end-users, traders said.
High-energy U.S. steam coal used for blending with coking coal is trading at 900-1,000 yuan/tonne CIF, a Beijing trader said. Shipping analysts say growth in U.S. coal exports to Asia could help bolster rates especially for smaller panamax vessels.
"The increase in shipments from the U.S east coast to Far East Asia is one very good example of how the panamax fleet is being used less efficiently than it was last year and such inefficiency is supportive of rates," SSY's Langston said. Average earnings for panamaxes in the year to date have reached around $30,500 per day from $19,300 for the whole of 2009.
"If thermal coal exports from the U.S. west coast to Asia ultimately find a steady place in the market, freight rates will likely receive additional support due to the long-haul nature of these exports," Jeffrey Landsberg, senior analyst with dry bulk consultants Commodore Research, said.
China Imports Surge
China has been the salvation of coal producers since last October when thermal and coking coal imports began to surge. American producers have been quick to focus on the Chinese market where they can get over $200 a tonne for coking coal - a healthy margin against cash costs of $80 per tonne.
China's official customs figures show a huge rise in North American imports during 2010 with coking coal from the U.S. and Canada together accounting for 2.7 million tonnes out of total imports of 19 million tonnes in Jan-May. U.S. metallurgical coal exports are likely to be in excess of 50 million tonnes in 2010, up from around 38 million in 2008, according to the U.S. National Mining Association.
Consol , the U.S.'s largest producer of bituminous coal, is actively chasing Chinese business, coal players say. "It's extremely profitable for Consol which has sold its high-sulphur thermal coal at more than $150 a tonne to China - more than twice what it could get in Europe at netback prices to API2," the U.S. coal trader said.
Producers such as Consol would make a loss of at least $10 a tonne if they tried to sell into Europe at current CIF ARA or API2 prices of $90 a tonne, utilities and traders said. This leaves American producers dependent upon the domestic market and Asia.
Canada has also seized the opportunity offered by China's continued steel boom. Around 2 million tonnes of Canadian coal including 1.2 million of coking coal went to China in Jan-May, a rise of 90 percent from last year. The majority of shipments from the U.S. to Asia have been using panamax vessels, which have a capacity of around 60,000 and 80,000 deadweight tonnes (dwt).
Coal capesizes, the largest class of dry bulk vessels with a capacity above 100,000 dwt, have been used to a lesser extent due to loading restrictions at East Coast U.S terminals. During the past two months capesize cargoes have partly loaded in the U.S. and then filled up at Canadian ports.
Around 500,000 tonnes of coking coal each from the U.S. and Canada were shipped to China in May alone, import figures show.
"The fully laden capesize vessels will then be able to sail to Asia and deliver full cargoes, allowing Asian coking coal importers to take greater advantage of economies of scale," Commodore's Landsberg said.
"This development will likely increase demand for U.S. coking coal and will help support capesize freight rates."
Source: Commodities Now / Hellenic Shipping
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Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
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