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