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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 companies have become one of the biggest beneficiaries of this change, with eight companies reporting high realized coal prices, net profits and operating cash flows for 2021 and 1Q22.
These coal companies are not expanding coal capacity, with one or two exceptions, capital expenditure (capex) is mainly for maintenance and there are moves towards non-coal projects. The major exception is the dimethyl ether (DME) project announced by state-owned coal miner PTBA (Tambang Batubara Bukit Asam), but the projects face uncertain financial returns and funding as IEEFA reported in 2020.
In this report, IEEFA highlights that coal prices will likely stay elevated given conflict-induced changes to trade flows. Due to disruptions in shipping schedules, Korea and Japan are likely to buy less Russian coal and substitute with coal from Indonesia and Australia, hence coal prices are likely to stay high.
In the longer term, the new trade flows will likely require time to adjust even following conflict resolution. Therefore, coal prices will be supported during this adjustment process.
Moreover, even if China ends its unofficial ban on imports of Australian coal, it is unlikely to help ease supply pressure. This is because there are already existing buyers for Australian coal since the ban was implemented. Its higher prices could make it likely to be priced out of the Chinese market.
IEEFA’s deep dive into the Indonesian coal sector finds that the eight companies are not reinvesting into new coal capacity. However, two have plans to acquire a new mine (ABM Investama) or build up downstream capacity (PTBA), while taking the opportunity to repay debt.
While this is not surprising, considering the 185 global financial institutions which have clearly stated that they will no longer support coal or coal power plant financing, a lack of new coal supply may mean coal prices continue to stay elevated, putting the onus of energy transition on potential buyers.
In the event that there is conflict resolution, coupled with the EU’s commitment to decarbonize, coal prices are likely to normalize from current levels longer term. Coal companies should not miss the opportunity now to diversify away from coal before the cost to transition gets higher.
- Ghee Peh -
Ghee Peh
Ghee Peh is an energy finance analyst with a focus on the Asian coal industry and South East Asia. Ghee has worked on major mining IPOs in Hong Kong and Indonesia including coal, copper and gold companies and has a deep interest in commodity markets.
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Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
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 ...
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- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- PTC India Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
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