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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, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
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- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
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