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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.
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Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
&nb ...
Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
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- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
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