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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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Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
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- Planning Commission, India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
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