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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 $130/mt the year before, marking a 300% y-o-y increase. With supply being already tight and demand rising from the EU, a supply/demand imbalance will continue to add pressure on thermal coal prices. Given the EU will manage to establish alternative coal resources, prices may soften in the medium term.
By Chara Georgousi
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
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