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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 been hit in early February due to seasonality of purchasing in the lead up to Chinese New Year and customs delays impacting Australian vessels into China. Will this move be another short-term blip and mirror the volatility seen last year, or is a broader correction at play?
Australian high CV thermal coal supply to remain tight
In 2019, demand growth in the Asia-Pacific market will require an extra 3 million tonnes of bituminous thermal coal. By 2023, we anticipate a further 34 Mtpa of bituminous coal demand in the region, led by India, Vietnam, South Korea, Pakistan and Malaysia.
While demand is increasing, Australian high CV thermal coal supply fell last year and will only partially recover this year. The recovery might be further constrained should producers target more semi-soft sales.
The ramp up of MACH Energy’s Mt Pleasant coal mine in New South Wales caters for nearly all the change, with high CV supply (ex. Mt Pleasant) essentially flat over 2019-21.
High CV supply could retreat again in 2022 due to lower output at Glencore’s Mt Owen mine and a possible closure at Liddell. Coal quality at BHP’s Mt Arthur mine is also expected to gradually decline. By 2023, we see a growing likelihood of a return to 2018 production levels.
Australian high CV thermal coal supply 2018-2023
Mine performance and quality issues limit supply response
The fall in Australian high CV thermal coal supply helped prices move nearly US$20/tonne higher in 2018. Widening price spreads between high CV and high ash thermal coal begged questions as to why we weren’t seeing a supply response? Part of that answer rests on specific constraints at a few large thermal coal mines in Australia, which contrary to expectations of growth, actually recorded declines in output. Some mines had short-term sequencing changes, while others battled with falling product quality. Pricing differentials between high CV thermal and semi-soft also played a part, with lower semi-soft supply offsetting the fall in high CV supply.
Two of the largest mines in New South Wales, BHP’s Mt Arthur and Yancoal/Glencore’s HVO, reported declines in output in 2018 of 4% and 11% respectively. In Mt Arthur’s case, saleable output was constrained by a lower washing yield, declining coal quality and adverse weather. At HVO, mine plans had been remodelled following a strategic review of operations following the takeover from Rio Tinto. Meanwhile, output at Whitehaven’s underground Narrabri mine fell nearly 30% as it worked around a geological fault. We also understand a number of Glencore’s mines were technically constrained in their ability to increase higher CV volumes by washing capacity.
Our expectations for near term thermal coal supply growth have moderated given recent M&A and an increasing focus on capital allocation. The latest plan at HVO is to gradually recover to 15 Mtpa with a focus on efficiency and productivity improvement, rather than further growth to 17 Mtpa. At Mt Arthur, we expect production to peak at a lower rate of 21 Mtpa, down from 22.5 Mtpa, given updated capital plans and optimisation of the operation.
On a price standpoint, we expect prices to recover and average US$98/tonne this year, down from US$107/tonne last year. Prices will remain elevated in 2019 given fundamental support for high energy thermal coal indexed to the GlobalCoal 6,000 kcal specification (14% max ash ar, 5,850 kcal/kg min nar).
Source: Wood Mackenzie
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
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