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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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Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
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- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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