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