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Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
 Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions due to thermal coal supply constraints in China.
Chinese regulations further tightening the mine safety requirements implemented earlier this year have reduced thermal coal production in the country despite strong demand driven by the economic recovery. Thermal power generation increased in China in January to July by 13.2% yoy, while non-power coal consumption increased by 7.7% yoy, causing rapid increases in coal prices. Coal inventories have been declining, even though import volumes increased in June and July.
The government has launched some mitigating actions, including re-opening open-pit mines capable of producing 67 million tonnes of coal per year, approving new production capacities and requesting mines increase production volumes. These measures, and seasonally weaker demand in September and October, should help moderate prices from the current high levels; however, we expect average domestic prices for 2021 to be higher than in our previous price deck.
Our increased price assumptions for the Chinese benchmark in 2022 and thereafter reflect structurally tighter supply, lower incentives to invest in new coal mines and an emerging trend of local governments and mining companies closing older coal mines in order to meet carbon-reduction targets. Furthermore, the central government has demonstrated its tolerance of high coal prices, while local governments in coal-producing regions are motivated to keep supply relatively tight.
The stronger domestic prices in China have also affected seaborne prices, despite China’s ban on coal imports from Australia. Trade flows have adjusted as a result, with China now importing more coal from Russia, Indonesia and other countries, with Australia now exporting more to India and Korea. We therefore have increased our 2021–2023 Newcastle 6,000kcal/kg assumptions. We have kept longer-term price assumptions for the Australian benchmark unchanged. We anticipate that pressures to reduce coal power generation in many key markets consuming Australian coal will eventually lessen coal demand and help normalise the seaborne prices.
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Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
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- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- The University of Queensland
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
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