We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
 Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand in Europe, rest of the world is shockingly low and stocks have hardly drawn despite the coldest winter in decades, according to an analysis by Bank of America- Merrill Lynch (BofAML).
Japan, by far the biggest importer of thermal coal, cut back on its appetite for coal by almost 20 million mt last year, to 117million mt. Europe took in 22 million metric tons less last year, driven particularly by Spain, Italy, the UK and France as low natural gas prices supported switching out of coal in the power sector
Last year China imported 70.4 mn mt of thermal coal, relative to outflows of 7.8 mn in 2008. China's imports will witness slowdown due to ramping up of internal proudction, according to BofAML.
|
|
“Last year China imported 70.4 mln mt of thermal coal, relative to outflows of 7.8 mln in 2008. China's imports will witness slowdown due to ramping up of internal production” - BofAML
|
|
|
Coal prices are protected to the downside by the high marginal cost of production, particularly in Russia. However, the oversupply in Europe will likely keep a lid on API2 prices near-term.
API2 front month coal increased from a low of $75/mt in mid December to $97/mt in early January, sharply outpacing other energy markets. Heavy snowstorms led to local power shortages, particularly in the South of the country.
Perhaps more importantly, a much stronger-than-expected cyclical rebound in China drove power generation growth to new highs, up 33% YoY over the past three months, helping to fuel coal demand. Other Asian countries also experienced a turn-around in electricity generation. In turn, due to the heavy snowfall and rail constraints, China resorted to seaborne coal as opposed to domestically produced material. Elsewhere, a glaringly cold winter in Europe provided some support to sentiment. Producer infrastructure constraints, particularly in Australia, South Africa and Indonesia, temporarily tightened the international coal market.
Ultimately, the 3-week rally in coal did not last and prices reversed sharply in mid January as the snowfalls in China receded and the USD strengthened. In recent weeks, front-month API2 coal traded down to $72.75/mt and has been in the $72/mt to $79/mt range. Chinese imports in January, though still at a very high level, cooled off month-on-month basis. Moreover, big European coal users, like Germany, France and the UK, recorded steep demand losses in January, at a time that they experienced the sharpest winter in decade, BofAML analysis said.
In the UK for instance, coal demand in December equalled 4.6 million mt, down from 6.3 million mt in the prior year. Preliminary data indicates that the trend continued over the past weeks.
Traditional European coal suppliers are doing what they can to manage supply to Europe. Russia has reportedly closed some mines to keep exports to Europe low. South Africa is actively diversifying away from Europe towards demand outlets in Asia Pacific. During 2009, 31% of South African exports went to India, from virtually nothing in previous years. That trend was particularly pronounced over the past months. Although in small volumes, South Africa has also been pushing material into China. More absurdly, Colombia-- who typically exports 50-60% of their coal to Europe with the balance going to the Americas--
has now detected interest in Asia.
Colombia exported small volumes to China in December to the tune of 1.5-1.7 million mt, for the first time ever. Of course, sharply lower freight rates are helping these trade flows. As we see continued supply of new Capesize vessels in 2010, freight will likely remain cheap by historical standards in the near-term. Once freight recovers, possibly at the end of this year with the cyclical demand recovery soaking up the supply in ships, these trade-flows are unlikely to be sustainable.
Europe's coal inventories remain at excessive levels at key import ports in Rotterdam and Amsterdam as supply exceeds demand. BofAML sses strong relationship between spreads in AP12 and coal inventories. Hence it is no surprise that the contango in API2 has steepened even more, with front month to front calendar year spreads at the widest since July last year , reflecting the oversupply in the European market and bulging inventories.
Coal markets in the Pacific are a lot tighter, with inventories relatively low in key coal consumers like China, India and South Korea. Meanwhile, the Newcastle coal market is trading in backwardation. Several coal mines in Australia had to declare force majeure in response to severe rainfalls on the east coast which flooded mines, while major rail lines had to close, clogging up the coal chain infrastructure. 47 vessels are currently again lining up outside Newcastle , underscoring that infrastructure problems will not go away easily, BofAML analysis said.
Overall, the outlook for emerging market coal demand remains very positive though. China is expected buy more seaborne coal as as the Chinese Renminbi is likely to be revalued by mid year. In BofAMl analysis, a CNY revaluation is undoubtedly positive for global thermal coal prices. Other EMs likeMexico and Turkey are sharply ramping up coal imports. India continues to suffer from a negative coal balance and will have to rely on the seaborne market for supplies. On a medium-term horizon, we believe that global seaborne coal prices have immense upside from the current level given the growth in coal-fired generation capacity.
Source:Commodity Online - By Madhurima R S
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
|
|
|
Showing 5976 to 5980 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
|
| |
| |
|
