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Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
 China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at domestic suppliers and exceptionally high local prices, says Fitch Ratings. Indonesian coal miners are benefitting as the country is the biggest exporter of thermal coal to China. This also comes amid China's political tensions with its second-largest supplier Australia.
China's coal imports surged to 39.08 million tonnes in December 2020 from 2.77 million tonnes a year earlier, as Beijing relaxed a soft cap on import restrictions to ease supply constraints domestically amid an unusually cold winter, an uptick in economic activity, permit inspections in Inner Mongolia, and a soft cap on Australian coal imports. China's 2020 coal imports rose 1.4% to 304 million tonnes, the highest since 2014. Total thermal power generation rose by 6.6% and 9.2% yoy in November and December 2020, respectively.
China's coal production dropped by 0.1% yoy in 2020. Production in Inner Mongolia, the country's largest coal-producing province in 2019, fell by 3% yoy in 2020 despite the government's policy reversal in October to boost output ahead of the winter. Inner Mongolia's output subsequently rose by 9% yoy to a record high of 97.8 million tonnes in December 2020. The government in January 2021 also urged all coal producers to operate at maximum capacity as long as they can ensure mine safety.
We expect China's coal demand and imports to weaken after the Chinese New Year as temperatures rise and coal production normalises. CRU's analysis of vessel data shows that China's thermal coal imports in the first two weeks of January were already close to 70% of the volume in December 2020. CRU said the seaborne Newcastle 5,500kcal/kg free on board (FOB) coal price rose to a two-year high of USD62 by 26 January 2021 and the Chinese import price for thermal coal, 5,500kcal/kg CFR China, was USD85/tonne, a deep discount to the domestic Qinhuangdao 5,500 kcal/kg FOB price of USD131. Fitch remains bearish on the long-term coal price outlook amid the global push towards carbon neutrality.
More stringent Covid-19 containment measures amid the resurgence of infections in northern China may raise seaborne demand by slowing the shipment of coal from central China to the Bohai Rim ports, according to CRU. Some cities have been asking truck drivers to provide negative Covid-19 test results several days before arriving. That said, we do not expect a repeat of the logistical disruption in early 2020 as local governments have become more sophisticated in implementing control measures to minimise the impact on economic activity.
There may also be a regional supply-demand imbalance, keeping coal prices elevated in the short term. The Chongqing municipal government recently ordered a permanent shutdown of local coal mines, including 11.5 million tonnes of capacity owned by Chongqing Energy Investment Group Co., Ltd. (BBB/Stable), by mid-2021. This is likely to tighten coal supply in the southwest region.
Indonesian coal miners are the major beneficiaries of strong Chinese imports. The Indonesian 4,200kcal/kg coal index rose to USD45/tonne in January 2021 from an average of USD26/tonne in the seven months to November 2020. The surge is likely to be short-lived, although Fitch expects a 2021 average price that is higher than 2020 at USD32.5/tonne.
Fitch also expects most Indonesian coal producers to ramp up 1Q21 production in response to the better demand and pricing as they had curtailed production or ceased operations in costlier mines in 2H20. However, the heavy rains and floods in some parts of Kalimantan - Indonesia's key-coal producing region - may hamper the efforts of some coal miners.
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Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
Wednesday, 03 February 21
MARKET INSIGHT - INTERMODAL
"2020 the year from hell for the entire world, had everything for shipowners. The introduction of the sulphur cap and VLSFO, a Pandemic outbre ...
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
KNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industrie ...
Monday, 01 February 21
A 56,000-DWT OPEN MANILA WAS FIXED FOR A TRIP VIA INDONESIA REDELIVERY CHINA AT $11,500 - THE BALTIC BRIEFING
Capesize
The Capesize routes endured a week of slippage on rates, bringing the market back down to levels seen at the beginning of the month. D ...
Monday, 01 February 21
PAKISTAN: COAL DEMAND EXPECTED TO SPIKE IN 2021 - DAWN
Coal demand is expected to remain upbeat in 2021 as more coal-fired and captive power plants are coming up in the current year.
Acco ...
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- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Mjunction Services Limited - India
- Parliament of New Zealand
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- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
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- Neyveli Lignite Corporation Ltd, - India
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- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
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- Bangladesh Power Developement Board
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- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
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- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Coal Association
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- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
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- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- The University of Queensland
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Aditya Birla Group - India
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- Thai Mozambique Logistica
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- Standard Chartered Bank - UAE
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- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
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- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
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- Planning Commission, India
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- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
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- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
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