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