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Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
 Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
According to BHP, the gCNewc 6000 kcal/kg FOB Newcastle index (hereafter 6000kcal) averaged around $61/t over the half, down from around $68/t in the first half of financial 2020. Prices ranged from a high of around $74/t to a low of around $50/t. That is below the 2015/16 trough in real terms. Based on the Wood Mackenzie operating cost curve, more than half of seaborne supply (comprising all grades of energy coal) was likely experiencing negative margins with 6000kcal prices in the low $50s.
The 5500kcal index averaged around $49/t over the same period, with a high of around $58/t and a low of around $38/t, which was where it closed out the half year.
BHP’s Economic and Commodity Outlook further noted that, the spread between the spot indexes for gCNewc 6000kcal and 5500kcal reverted to historical average of close to 20 per cent in the second half of financial year 2020, down from around 30 per cent in the 2019 calendar year.
“While not directly relevant to our business, there was a compression of spreads between the lower grades of energy coal (the 5000, 4200 and 3400 gross–as–received29 kcal brackets) as prices traded deep into the cost curve. Supply has been “sticky” in most export jurisdictions, with the exception of Indonesia, where output has been materially lower. Indonesian supply is prominent in these lower quality brackets” says BHP. Developed Asian markets, who are the largest buyers of >5500kcal product, have been weak under the shadow of COVID–19. Japanese imports contracted by –3 per cent YoY in the first half of the 2020 calendar year, while power demand was down -4 per cent YoY, South Korean imports contracted by –11% per cent.
Chinese demand for seaborne energy coal according to BHP’s Economic and Commodity Outlook FY20, rebounded as lockdowns were lifted, with consumption of coal at coastal power plants back in the normal seasonal range by April 2020. Hydro generation has been inconsistent, along with the weather, with dry conditions early in the year then giving way to floods. The market consensus has been that the 271–281 Mt import inflow registered in calendar years 2017 and 2018 would serve as an informal objective for total coal imports (including metallurgical and lignite) in calendar 2020, rather than assuming that the jump to around 300Mt in 2019 was the new norm. Enforcement of quotas by month and by port, including clamping down on the practice of trading firms clearing customs at one port but discharging at another, have been somewhat effective. Even so, with so much product being forced to clear to China under the Great Lockdown, some provinces and individual ports had already exhausted full year quotas by May.
India saw a sharp decline in energy coal imports in January – June 2020 (–27 per cent YoY). Power demand declined by –7 per cent YoY in the same period, while domestic coal output was quite resilient, at –3 per cent YoY.
Demand from the Atlantic and Mediterranean regions was weak in advance of COVID–19 and lockdowns have deepened the malaise. In calendar 2019, the weakness reflected commercially driven coal–to–gas switching in parts of Europe, where relatively cheap pipeline gas and LNG imports, plus a steep rise in the price of European Carbon Allowances (ECAs)30, have driven generator behaviour. In calendar 2020 to date, all of these factors have remained in place and in some instances they have been amplified by COVID–19: and demand for power itself has now fallen sharply. Renewables have been able to take a larger share of that shrinking pie BHP concluded in its latest Economic and Commodity Outlook FY20.
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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
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