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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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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
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- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
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