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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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Wednesday, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
Monday, 04 January 21
U.S. RENEWABLE ENERGY CONSUMPTION SURPASSES COAL FOR THE FIRST TIME IN OVER 130 YEARS - EIA
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S ...
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- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
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