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.
|
|
Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
|
|
|
Showing 126 to 130 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
|
| |
| |
|
