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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, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
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- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Aditya Birla Group - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
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