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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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Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
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- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
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