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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, 11 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
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- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Minerals Council of Australia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
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