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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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Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
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- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
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