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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, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
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