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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 $1,676 for four or more. Special reduced delegate rates for members of black economic empowerment (BEE) are also offered. To see the fees for the BEE delegates, please visit registration page.
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Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- White Energy Company Limited
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
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