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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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Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
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- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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