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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 $130/mt the year before, marking a 300% y-o-y increase. With supply being already tight and demand rising from the EU, a supply/demand imbalance will continue to add pressure on thermal coal prices. Given the EU will manage to establish alternative coal resources, prices may soften in the medium term.
By Chara Georgousi
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
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- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Minerals Council of Australia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
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