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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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Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
Thursday, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
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- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
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