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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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Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
Wednesday, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
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- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Planning Commission, India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
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