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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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Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
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- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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