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Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal price has been reinvigorated, with Morgan Stanley noting a recent rally generated by an increase in spot buying from Chinese end-users.
The thermal price, having been around US$50/t since early May, has risen to US$55.50/t. Still, the broker assesses developments in China are somewhat confusing.
Customs authorities in Shanghai are contemplating a ban on coal discharging in the final months of the year while some in southern China have secured additional clearance quotas. China is aiming to limit coal imports but domestic production is also constrained because of the clampdown on illegal output.
This has generally tightened the market. Power generation from coal for key importers such as India, Japan and South Korea is returning to normal, although high inventory could limit the level of winter stockpiling in the broker’s view.
Meanwhile, Glencore is curtailing supply in Australia and in June, Morgan Stanley points out, almost half seaborne coal exporters were loss-making, although this has reduced to around 15% at the spot price. Hence, a lapse in supply discipline and a quick return of curtailed capacity could put the recent recovery at risk.
On the metallurgical (coking) coal front, Australia’s hard coking coal price has risen to US$139/t, also sustained by Chinese buying and a recovery in steel production. India’s steel production is almost back to normal, Morgan Stanley observes, although coal imports have not kept up with output.
The broker believes a floor is settling under both coal pricing systems but favours metallurgical over thermal coal as there is a more robust recovery in demand, less inventory around, and potential for seasonal supply disruptions ahead.
Short-Term
So, what about the weather? The Australian Bureau of Meteorology has assessed a La Niña event now prevails in the Pacific Ocean. This signals higher rainfall on the eastern seaboard over the next few months.
As the number of tropical cyclones is also likely to increase, this brings the focus of risk to the largely metallurgical coal basins of Queensland. Credit Suisse assesses a risk of price spikes for coal in the event of supply disruptions and insufficient inventory, given improving demand.
While Australian coal producers are better equipped to deal with severe weather these days, having invested in mitigation, the extent and location of events are difficult to predict adequately.
The Bowen Basin coalfields are the most exposed to severe rain events from tropical cyclones, Credit Suisse notes, while further west base metals operations could be hampered by disruptions to Queensland rail networks. Hence, steel mills and coal traders are likely to be watching the weather closely, to ensure they are ready in terms of sourcing required volumes of metallurgical coal.
Source: FNArena
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Tuesday, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
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