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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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Thursday, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
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- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Deloitte Consulting - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Australian Coal Association
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
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