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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, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
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- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
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