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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 $130/mt the year before, marking a 300% y-o-y increase. With supply being already tight and demand rising from the EU, a supply/demand imbalance will continue to add pressure on thermal coal prices. Given the EU will manage to establish alternative coal resources, prices may soften in the medium term.
By Chara Georgousi
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
Wednesday, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
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- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
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