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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Australian Coal Association
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
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