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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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Thursday, 16 April 20
MARKET INSIGHT - INTERMODAL
As everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch the reaction of tanker rates that were in ...
Monday, 13 April 20
SUPRAMAX: A 56,000DWT SHIP WAS FIXED DELIVERY PARADIP, REDELIVERY CHINA, AT $4,700 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Saturday, 11 April 20
FAQ: COVID-19 AND CLUB COVER - UK P&I
KNOWLEDGE TO ELEVATE
The Coronavirus (COVID-19) pandemic has generated a significant number of enquiries and questions from Members in recent ...
Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,500,000-1,620,000 Metric Tons (M ...
Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
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Showing 1016 to 1020 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
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