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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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Monday, 04 January 21
BLISS FOR SHIPOWNERS! DAMAGES MAY BE CLAIMED IN ADDITION TO DEMURRAGE FOR VOYAGE CHARTERPARTY DELAY - WFW
KNOWLEDGE TO ELEVATE
In a significant decision for the maritime sector, The Eternal Bliss[1], the English Commercial Court has resol ...
Sunday, 03 January 21
INDIA: COMMERCE MINISTRY LAUNCHES COAL IMPORT MONITORING SYSTEM - PTI
CIMS shall require importers to submit advance information in an online system for imports of items and obtain an automatic registration number by ...
Wednesday, 30 December 20
A LOOK BACK INTO 2020: THE HEADWINDS, THE TAILWINDS AND EVERYTHING IN BETWEEN - SIGNAL
There is no doubt that 2020 has been a turbulent year for commercial shipping. The coronavirus pandemic has shaken the global maritime transport. T ...
Tuesday, 29 December 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.66 PCT - XINHUA
China Taiyuan coal transaction price index stood at 134.78 points Monday, up 0.66 percent week on week.
The index, released by China ...
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
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- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
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- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
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- European Bulk Services B.V. - Netherlands
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
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- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
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