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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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Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
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