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Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
 Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country’s total coal exports
Exports of South African thermal coal through the Richards Bay Coal Terminal (RBCT) hit a record 75.4 million tonnes (mt) in 2015, an increase of approximately 4 mt above 2014 levels. However, this will not translate into an equivalent rise in the country’s total exports, says IHS (NYSE: IHS), the leading global source of critical information and insight.
“Despite this record growth in export tonnage of thermal coal through the RBCT, it is not a sign that South Africa is likely to see significant growth of coal exports in 2016,” said Andrew Wells, managing editor at IHS Energy. “With South African coal prices languishing near seven-year lows, competitor export terminals who hope to expand capacity and attract more customers will struggle to regain market share in 2016. The market is weak and oversupplied.”
The dominance of RBCT is supported by the IHS Global Steam Coal Service (GSC), which estimated total South African exports of 77 mt of thermal coal in 2015. This suggests that non-RBCT shipments, through other export channels -- including the nearby Richards Bay Dry Bulk Terminal (DBT) -- have dropped by at least half since 2014.
The difficult economic climate for coal exports means that, despite efforts to make the market more attractive for shippers who are not shareholders of the RBCT--- predominantly the 'junior' or Black Economic Empowerment (BEE) miners -- to export coal independently out of alternative ports, is a challenge, IHS said. RBCT remains the cheapest and therefore, most popular, route to export in this low price environment.
However, the preference for this cheaper route has meant that the junior miners have to sell to RBCT shareholders to gain access to RBCT, giving up their independence and shelving their plans to develop strategies to sell directly to customers.
“Even though more competitive transport and handling charges have been introduced by other port operators as reported by the IHS McCloskey Coal Report in November last year, the reduction in mining margins, due to the 27 percent decline in coal prices in the past 12 months, means that the exporters want to shave every cent they can from transport and logistic costs and reduce risk to a minimum,” Wells said.
That is likely to mean that even the under-utilised DBT, which is offering single-cost rates covering all transportation, handling and storage costs, has not achieved significant inroads in terms of expanded export volumes.
While this has brought down the cost of shipping coal out of the DBT for many smaller users to almost parity with what it costs to rail and ship from the RBCT, the additional costs, and other terms, including attempts by operators to include take-or-pay clauses means everyone is boxing shy of this option, Wells said.
DBT can handle about 3 mt/y of coal, but shipments are understood to currently be about half that level. However, there are plans to expand to 4 mt per year by the end of 2016. The increase in export tonnage at RBCT is in part due to an improved rail performance by Transnet Freight Rail, but also strong demand from India has bolstered the terminal’s performance. Last year, approximately 36 mt of South African coal was shipped through RBCT to India, which is about half the total coal export volumes, up from 30 mt in 2014.
In 2015, Indian imports fell by an estimated 4 mt to 172 mt, and the success of South African coal in India has been at the expense of Indonesian producers, which had to cut their coal exports by 50 mt, last year due to the global oversupply, according to IHS Energy.
With the Indian government predicting coal import demand to decline by approximately 10 percent in the 2016 to 2017 financial year, the performance of RBCT in 2016 will hinge on whether South African coal exports can continue to outperform Indonesian coal exports.
More on the topic of RBCT and other industry trends will be discussed at the IHS South African Coal Exports Conference in Cape Town, 3-5 February, where Nosipho Damasane, CEO of RBCT, and TFR’s Divyesh Kalan, will present.
More Details on Upcoming Conference
To view the current agenda for the IHS Energy South African Coal Export Conference in Cape Town, 4-5 February 2016, and to register for the event, please visit registration page.
The registration fee for the conference is U.S. $2,095 for one to three registrants, and $1,676 for four or more. Special reduced delegate rates for members of black economic empowerment (BEE) are also offered. To see the fees for the BEE delegates, please visit registration page.
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Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
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- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
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