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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, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
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- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
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