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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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Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
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- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Planning Commission, India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
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