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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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Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
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Wednesday, 01 April 20
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Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
Tuesday, 31 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.43 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.17 points Monday, down 0.43 percent week on week.
The index, released by Chi ...
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- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- The University of Queensland
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
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