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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, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
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Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
Tuesday, 20 January 15
INDIA TO SURPASS THE UNITED STATES AND BECOME THE SECOND-LARGEST COAL CONSUMER IN THE WORLD BY 2019 - IMF
COALspot.com: In 2013, coal added more primary energy than any other fuel and was the fastest-growing fossil fuel, enhancing its position as the se ...
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- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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