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