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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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Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
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- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Australian Coal Association
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
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