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Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are being re-routed to other Asian countries open for business; but at lower prices. Traders have complained that custom clearances times are dramatically up on the Chinese ports, taking on average 45 days to offload, compared to 10-12 days earlier with volumes limited to a few thousands of tons. What appears to be a Chinese indirect restriction on Australian coal in particular—Australia being second biggest exporter of coal to China—the Australian dollar dropped by 1 percent following news of the apparent ban with prices under pressure in the overall market. Too bad for coal miners, but great news for coal importers.
According to a Reuters report, Australian Thermal Coal price per ton was $92.53 the past week, down from prior week’s $95.18. In the week of Feb 17, 2019 last month, the price was $89.46 at a 19-month low. Month-end data of Feb-19 shows that coal prices are down 10 percent since this month last year, and by 19 percent since Aug-18. Though some mysterious Chinese sources have told the media that
China has put a cap on Australian coking coal and thermal coal imports which in 2018 stood at 39 million tons and 49 million tons respectively—both over 20 percent of Australian global exports in the commodities. Meanwhile, there are no such barriers on Indonesian or Russian coal. Analysts believe the ban may be politically inclined (Australian government has recently put a ban on Huawei from building a 5G network) but Chinese official word is that the policy is targeting “environmental protection”, not any particular country.
According to officials, China is running safety and quality checks—which include radioactivity tests—at the ports which is causing the delays. This is apparently to safeguard the environment and coal importers in the country, though it doesn’t make sense why coal from other countries are getting a free pass. In fact, analysts believe this move is simply to safeguard the interests of domestic Chinese coal miners who are battling Australian imports which are preferred in the market due to their higher productivity. The move may even backfire since importers will be racing to the doors of other higher-grade coal producers like Indonesia.
It has been argued by Wood Mackenzie’s Research Director to the Financial Review that a prolonged ban may have adverse implications. It could raise Chinese steel makers’ prices since they will be using domestic coal whereas excess volumes of Australian coal will flood the markets that would depress coal prices. However, the restriction is limited to a few ports so far. According to Refinitiv, the financial markets arm of Reuters, the pricing is not indicative of a massive slowdown in China’s coal imports. There aren’t dramatic changes in volumes either, though the speed of vessel offloading in March may be foretelling a challenging future.
Source: Business Recorder
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
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