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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, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
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- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
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