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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, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
Monday, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
13-16 October 2014
Grand Hyatt Jakarta, Indonesia
Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
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- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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