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Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
 "Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expected to substantially ease in 2019, even as macro concerns of slowing global GDP growth, trade issues and easing commodity prices create cause for caution," said Peabody Executive Vice President and Chief Financial Officer Amy Schwetz, as reported in Peabody Reports Earnings For Quarter and Year Ended December 31, 2018.
Continued tightness in seaborne thermal supply-demand dynamics in 2018 contributed to ongoing strength in the 6,000-specification Newcastle thermal price. The fourth quarter average prompt Newcastle thermal price eased 10 percent from the third quarter 2018 to $105 per tonne. The spread between the 6,000 Newcastle specification product and the lower-quality 5,500 product tightened to an average of approximately $42 per tonne in the fourth quarter compared to an average of approximately $48 per tonne in the third quarter.
Quarter and Year Ended December 31, 2018 report of the Peabody further noted that, the ongoing importance of the Asia/Pacific region was again highlighted in 2018. Despite import restrictions enacted by the Chinese government, Chinese thermal coal imports rose approximately 16 million tonnes in 2018, as domestic supply was outpaced by increased domestic power consumption, which grew at the highest rate since 2011. India thermal coal imports increased 18 percent to 167 million tonnes as rising domestic coal production fell short of continued strong domestic demand. In addition, ASEAN nations expanded imports by 19 million tonnes in 2018 to support ongoing urbanization. Globally, coal-fueled power plants continue to be built, with approximately 56 gigawatts of new capacity added in 2018, with another some 60 gigawatts of additional capacity expected to come online in 2019.
On the supply-side, Peabody said, lower-quality Indonesia exports rose 39 million tonnes in 2018 over the prior year primarily in response to increased demand from China and India. Both Australian and U.S. thermal coal exports remained strong, up 4 percent and an estimated 34 percent, respectively, year-over-year.
Turning to metallurgical coal, premium hard coking coal spot pricing remained high in the fourth quarter, averaging $221 per tonne. The fourth quarter index settlement price for premium hard coking coal was $212 per tonne compared to $192 per tonne in the prior year. Pricing for the low-vol PCI product also continued its strength, with a fourth quarter benchmark settlement of $139 per tonne compared to $127.50 per tonne in the prior year. Looking ahead to the first quarter 2019, the low-vol PCI benchmark price was set at $141 per tonne.
Seaborne metallurgical coal supply/demand balance remains favorable. India continues to demand metallurgical coal to meet its steel making needs, with metallurgical coal imports rising 5 percent in 2018 over the prior year. However, Chinese metallurgical coal imports eased 5 million tonnes due to an increased reliance on domestic supplies and scrap steel usage. Increased steel production from ASEAN nations also continues to support seaborne metallurgical coal demand.
Even with continued strength in pricing, supply growth remains muted with metallurgical exports from Australia and the U.S. rising 7 million tonnes and an estimated 4 million tonnes, respectively in 2018.
Within the U.S., a mix of higher seasonal demand, increased fourth quarter natural gas prices and ongoing strength in exports resulted in continued stockpile reductions despite substantial plant retirements in 2018.
Total U.S. electricity generation rose 4 percent in 2018, while coal demand fell 4 percent. However, a 16 million ton decline in total U.S. coal production and an estimated 18 million ton increase in U.S. thermal exports led to utility coal stockpiles falling 37 million tons since 2017, reaching the lowest levels since 2005. As a result of continued strength in seaborne thermal coal pricing, the Illinois Basin is forecasted to be the largest thermal exporting region in the United States.
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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
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