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