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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, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
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- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Australian Coal Association
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
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