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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, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
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