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Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
 COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and slower steel demand growth, says SGX Commodities 2014 Review.
According to SGX, spot prices remained depressed through 2014 as ‘take or pay’ continued to wreck havoc. Looking forward, deflationary pressures may hamper hopes of a near-term recovery, while policy changes have created further lingering uncertainties. Coking coal FOB & CFR prices declined 15.0% and 18.3% respectively during the first three months of the year, and remained relatively stable within a $10 per tonne range thereafter.
SGX’s commodities 2014 review further noted that, a combination of persistent oversupply, ample stockpiles within China, and lackluster underlying steel demand kept prices low through the year. In August 2014, SGX launched coking coal derivatives (FOB Australia & CFR China) in response to the increasing trend towards index-linked pricing across the industry.
A variety of factors have kept coking coal prices depressed for longer than many had previously forecast. Such factors include:
(i) a drive by major producers to lower unit costs by improving production efficiencies and increasing production (thereby also increasing market share);
(ii) ‘take or pay ’ rail commitments in Australia, often making it more economical to continue producing at a loss than to cease production (NB. Australia accounts for more than half of seaborne supply); and
(iii) cost deflation in the domestic Chinese coal industry.
Looking forward, SGX’s Commodities 2014 Review report says that, while many analysts have been calling a bottom in the coking coal price, the timing of any meaningful recovery remains far from clear. Supply cuts are indeed emerging. However, deflationary pressures such as falling resource currencies and a slump in oil prices may hinder the prospect of any significant recovery in the near-term. With a relatively flat cost curve, FX may also be an important variable.
Furthermore, there is uncertainty over the likely medium-term impact of the reduction in China’ s export tax on coking coal from 10% to 3% (effective 1 Jan 2015); Japanese and Korean mills used to procure coking coal from China and, while relative costs will be a factor, there may be a strategic argument to diversifying supply, SGX concluded.
SGX also launched coking coal derivatives in August 2014 in response to the increasing trend towards spot and index-linked pricing.
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Monday, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
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- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- MS Steel International - UAE
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
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