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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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Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
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- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
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