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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, 23 July 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 1.36 MILLION TONS OF BITUMINOUS COAL FOR OCTOBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 1,360,00 ...
Wednesday, 22 July 20
CIL'S COAL SUPPLY TO POWER SECTOR DROPS OVER 21% TO 93.5 MT IN APR-JUN QUARTER - PTI
The supply of coal by state-owned Coal India Ltd to the power sector fell 21.7 percent to 93.5 million tonnes (MT) in the first quarter of the ongo ...
Monday, 20 July 20
KOREA MIDLAND POWER INVITED BIDS FOR TOTAL 2.520 MILLION MT OF BITUMINOUS COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO), has issued an international tender for total 840,000 of Bituminous Coal to be used at Bo ...
Monday, 20 July 20
CHINA'S JUNE COAL OUTPUT FALLS 1.2% YEAR-ON-YEAR OVER ILLEGAL MINING CHECKS - REUTERS
China’s coal output dropped 1.2% in June on the year to 330 million tonnes, official data showed, as major coal mining areas cracked down on ...
Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
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- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
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