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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, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
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- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
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