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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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Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
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- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Economic Council, Georgia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
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