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Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
 COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply to continue into 2015 with current physical markets sloshed with roughly 10 million tons of thermal coal in excess of 2014 demand. The result is depressed and falling prices which has placed at risk many coal mining firms globally. However, current low prices belies great uncertainty in a market where the supply glut could rapidly turn into a squeeze, SGX said in its latest memo.
Bulking Up SGX Thermal Coal Derivatives
-- Growing uncertainty in Asian thermal coal markets reflected in rising price volatility from 3% to roughly 10%.
-- SGX will introduce API 4 and API 5 thermal coal derivatives on 4 Aug 2014 to complement to existing thermal coal contracts.
-- 50% margin credits for any pair of SGX thermal coal derivatives improve capital efficiencies.
According to SGX, although the surplus numbers look relatively puny next to a global output of 9 billion tons and an annual seaborne trade of a billion tons, it is the process of rebalancing such marginal supply (or marginal demand) that can sharply swing coal prices and create elevated levels of volatility. If the 10 million tons of excess supply gets absorbed by shocks or fresh demand, the seaborne coal market could quickly turn bullish with undersupply driving rising prices and higher volatility. In fact, 30-day active month historical price volatility has already risen significantly from 3% to approximately 10% in the last 2 months.
SGX further said, with physical coal trade flows heavily hinged on Asia, there is little doubt where a demand trigger could come from. Major consumers in China, India, and South East Asia look set to increase consumption as they fight poverty through rapid industrialization and urbanization—both of which require electricity.
For these countries, despite global concerns regarding pollution, coal remains the most affordable source of power. Meanwhile, in response to the recent glut, various government policies are being put in place to rationalize supply. Also, key producers in Indonesia and Australia are already in the midst of cutting production, said SGX
A combination of supply side discipline and rising demand may result in the re-balancing which could tilt market equilibrium. However, it is unknown when the effects of higher demand and reduced supply will hit the market.
SGX introduces API 4 and API 5 derivatives
Barring some exceptions, majority of international thermal coal deals are priced against an index or basket of indices. Many power generators in the region price electricity against index. This continues to create rising demand for index-linked thermal coal derivatives in Asia to meet hedging needs of miners, power gencos, and traders alike.
In responding to that trend, SGX will expand its current thermal coal derivative offerings from SGX API8 CFR China Coal Derivatives and SGX IHS McCloskey Indonesian Sub-Bit FOB Swaps/ Futures to also include SGX API4 FOB Richards Bay Coal Derivatives and SGX API5 FOB Newcastle Coal Derivatives.
The expanded suite will facilitate more effective hedging of thermal coal prices in Asia. The two new thermal coal contracts will be launched on 4 August 2014, alongside two coking coal derivative products. (please click here to find out more).
For more information on SGX Commodities, please visit SGX
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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- The University of Queensland
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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