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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, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
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- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
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