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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, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
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- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
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