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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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- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Australian Coal Association
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
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