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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, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
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