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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, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
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