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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- PTC India Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- The University of Queensland
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
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