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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, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
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- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Planning Commission, India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
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