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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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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 ...
Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
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- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
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