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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, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
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- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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