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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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- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
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