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.
|
|
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
|
|
|
Showing 31 to 35 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
|
| |
| |
|
