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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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Monday, 06 July 20
INDONESIAN COAL PRICE REFERENCE IN FREE FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 06 July 20
SUPRAMAX: A 58,000-DWT FIXING DELIVERY VIETNAM TRIP VIA INDONESIA RE-DELIVERY WEST INDIA IN THE LOW $4,000S
Capesize
The Capesize market continues to go from strength to strength, as rates reach highs not seen since September last year. The rally is p ...
Thursday, 02 July 20
PRIVATE COAL MINING MAY SEE WEAK INVESTOR SENTIMENT: ICRA - LIVEMINT
The prospects of commercial coal mining in India may be dimmer than initially expected because of the expected shift in India’s energy mix fr ...
Wednesday, 01 July 20
THERMAL COAL OPTIONS TRADING LAUNCHED IN CHINA'S ZHENGZHOU - XINHUA
Thermal coal options started trading on the Zhengzhou Commodity Exchange (ZCE) in central China’s Henan Province Tuesday.
It i ...
Wednesday, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
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- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- VISA Power Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
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