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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, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
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- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Planning Commission, India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- PTC India Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
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