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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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Thursday, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as ...
Thursday, 14 July 22
CHINA'S JUNE COAL IMPORTS SLUMP AS TRADERS SHUN EXPENSIVE OVERSEAS CARGOES - REUTERS
China’s coal imports fell 33% in June from a year ago, with traders turning down expensive overseas cargoes in favor of domestic ones with ca ...
Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
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- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Australian Coal Association
- White Energy Company Limited
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
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