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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, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
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