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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, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
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- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Australian Coal Association
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
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