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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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Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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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- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- White Energy Company Limited
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
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