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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, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
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- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
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