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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, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
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Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
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COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
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- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Parliament of New Zealand
- VISA Power Limited - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
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