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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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- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
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