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Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices higher in the short term, with strong realised prices in 2022 boosting its annual revenue.
 
The comments come after China, Australia’s largest coal importer and trade partner, earlier this month lifted an unofficial ban on coal imports and others commodities from the country after a nearly three-year long geopolitical tussle.
 
The Brisbane, Queensland-based miner, which has not typically sold coking coal to China, said last week it had received enquires for long-term supply as Beijing lifted its unofficial ban on coal imports from Australia.
 
“Coronado expects Australian metallurgical (met) coal imports to China to return in 2023 and displace lower quality and higher cost Chinese domestic or U.S. met coal production, particularly to the Chinese steelmakers in southern regions,” the company said.
 
Chief Executive Officer Gerry Spindler said he expects met coal prices to remain above historical averages throughtout 2023 due to the ongoing trade constraints for Russian coal and elevated thermal coal demand and prices.
 
The coal miner posted annual revenue of $3.57 billion, 66% higher than last year with average realised prices more than doubling to $303.1 per tonne.
 
However, its coal sales volume for the year fell 7.7%, sending shares of Coronado Global 3.3% lower to A$2.07 at 0336 GMT.
Source: Reuters 


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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...


Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...


Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...


Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...


Tuesday, 14 November 23
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Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon. ...


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