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.
|
|
Thursday, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
|
|
|
Showing 6031 to 6035 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Australian Coal Association
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
|
| |
| |
|
