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