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Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
 Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal imports as a direct reaction to the threat of a reduction in gas supply from Russia. The ban comes at a time when coal trade is already tight. As a result, thermal coal prices have been surging on the back of tight supply and geopolitical tensions.
Considering that the EU was importing approximately 35-40mn tonnes/year from Russia, these cargoes need to be supplied from elsewhere, namely US, Australia, South Africa, and Colombia. US accounts for the largest exporter of thermal coal to Europe at the moment, with exports surging to 11.2mn tonnes during 1H22, noting a 91.6% y-o-y increase. Amid intensified sanctions, US Government is exerting pressure on miners to increase production, therefore, trade flows from US to EU ports (mainly Netherlands and Germany) are expected to increase within 2H22.
High-quality Australian coal, on the other hand, is also benefiting from the surging demand in the EU. Imports from Australia surged to 10.2mn tonnes, marking a 27.8% y-o-y increase. For instance, thermal coal exports from Australia's Gladstone port in Queensland hit an 11-month high in June. Gladstone shipped 193,000 tonnes to the Netherlands, 76,400 tonnes to Poland, and 40,000 tonnes to Turkey. Trade flows from Australia, however, did not provide adequate relief as part of Australia’s production tied to long-term contracts.
Volumes from Colombia flowing to Europe recently are on an uptick. Although EU’s appetite for Colombian coal has declined during the past years, the country’s recovered production provided a steady flow of imports amid the current energy crunch, while more shipments are expected during the following months.
Lastly, South African coal has seen its exports recovering y-o-y amid the EU’s increased demand. However, the country’s issues with violence waves, logistics issues, and Covid-induced and weather-related disruptions in production have resulted in unpredictable trade flows. Given that the nation will be able to hold its export momentum, more shipments could be anticipated toward the EU during Q3.
In the meantime, new origins are emerging, like Tanzania, Kazakhstan, and Nigeria, which are being positively considered as a backup measure. EU buyers have started exploring them as a viable plan of action due to competitive prices and quality. Over the past 2 months, a few shipments have been imported to the EU from Tanzania and Kazakhstan at competitive prices compared to the US and South African coal. If imports increase, they will provide relief to thermal coal prices.
Thermal coal is now traded at the range of $400/mt compared to $130/mt the year before, marking a 300% y-o-y increase. With supply being already tight and demand rising from the EU, a supply/demand imbalance will continue to add pressure on thermal coal prices. Given the EU will manage to establish alternative coal resources, prices may soften in the medium term.
By Chara Georgousi
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
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 ...
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
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- Indogreen Group - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
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