We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
 Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newcastle coal future has fallen by almost 50% since the start of 2023 to $196.5/t.
There are a number of reasons for these declines in the two benchmarks, but the main one is competition from natural gas prices, which have reached levels below €50/MW, currently standing at €47.70/MW and down more than 59% since the start of the year. Indicative of this situation, the clean dark spread in Germany, which measures the difference between the wholesale price of electricity and the cost of the coal used to generate that electricity, has reached a multi-year low of -€18.77/MWh, implying that it is not profitable to use coal. Another reason for the fall in prices is the weather. The winter has been milder than expected in both Europe and Japan, meaning that less coal has been used for heating. Although colder weeks are expected, the end of the winter is near. The milder winter is also reflected in the ARA region inventories, which are now almost double the level of a year ago.
Looking at seaborne trade, the EU and UK imported 84.3 Mt of thermal coal in Jan-Nov 2023, 4.6 Mt more (+5.7%) than in the same period last year, while coking coal imports were 29.7 Mt, 8.1% lower than last year. The trade is solid, but the routes have changed. Russia is no longer the top supplier of coking coal, with its share falling from 68% in 2021 to just 4% in 2022. Other countries such as Colombia, the United States, South Africa, Australia and Indonesia have stepped up, increasing the distance travelled to reach Europe.
Although Europe has dumped Russia as a major supplier of coal, Russia has managed to sell it elsewhere. China, for example, bought both thermal and met coal from Russia, benefiting from discounts. In general, China significantly reduced its coal imports by -41 Mt (-15% y-o-y), due to increased Chinese production and some government price controls to limit import demand. Besides China, other countries such as India, Turkey and South Korea were the main destinations for Russian coal.
Looking ahead, the decline in the coal price since the beginning of the year has been significant and it is worth looking at some of the factors that can move the price of coal. First and foremost, the war in Ukraine has the potential to keep supply and demand tight in the near term. If the war continues to rage and coal importers stay away from Russian coal, tone-mile demand is likely to rise, which can further boost the dry bulk market. The same applies if gas prices rise again and coal becomes the fuel of choice for power generation. In fact, the front-year clean dark spread is expected to reach +18.77/MWh, meaning that coal will become more profitable to burn for power generation, thus increasing demand for it.
By Fotis Kanatas
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
|
|
|
Showing 51 to 55 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
|
| |
| |
|
