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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, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
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