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Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
 Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years in Australia’s Queensland state disrupted output from the world’s biggest shipper of the fuel.
Prices may increase to between $270 and $300 a metric ton, analysts from Macquarie Group Ltd., Morgan Stanley and Daiwa Capital Markets said. Mills agreed to pay $225 a ton for the three months starting Jan. 1, Bank of America Merrill Lynch analysts said last month.
“Queensland accounts for the majority of the premium hard coking coal supply on a global seaborne basis,” Alex Tonks, a commodity strategist at Bank of America Merrill Lynch in Sydney, said by telephone. “A lot of operations have been impacted. It certainly looks pretty bad at this stage.”
Rain in the Australian state has inundated an area the size of France and Germany, prompting BHP Billiton Ltd. and Rio Tinto Group to declare force majeure, a legal clause that allows mines to miss deliveries. About 37 percent of the world’s traded coking coal is affected, according to Macquarie. Queensland floods in 2008 left steel producers, including Japan’s Nippon Steel Corp. and JFE Holdings Inc., with a threefold increase in annual contract prices to about $300 a ton.
Australian free-on-board prices may climb to $270 a ton for three-month contracts starting April 1 as the floods threaten to take as much as 10 million tons of metallurgical coal out of the market, said Colin Hamilton, a London-based Macquarie analyst.
Thermal Coal
Morgan Stanley said prices may surge to $292.50, and Daiwa Capital analyst David Brennan said they may jump to $300. Free on board is a term indicating that delivery at the seller’s expense is included in the invoice price.
Flooding is also affecting thermal coal, used by power stations, driving the price of supplies at the port of Newcastle in Australia’s New South Wales, the benchmark for Asia, to the most in 27 months. Prices jumped 3 percent to $126.10 a ton in the week ended Dec. 31, the most since Oct. 2008, according to IHS McCloskey, a Petersfield, U.K.-based provider of coal data.
Coking coal suppliers traditionally held annual talks with steelmakers to fix benchmark contracts for the 12 months from April 1, the start of the Japanese financial year. BHP has urged the industry to move to short-term deals to make prices more responsive to market changes. It agreed with JFE Holdings to the first three-month accord in March last year.
‘Price Spike’
Steelmakers may agree to monthly pricing for coking coal, as proposed by BHP, in a “price spike environment” rather than locking in $300 a ton for a whole quarter, Macquarie said in an e-mailed research note Jan. 4.
“We’re moving away from that quarterly contract pricing,” Daiwa’s Brennan said from Melbourne. “I can see that BHP wants to go to monthly. When I say $300 a ton that would be for one month in April for example, but not for the three months.”
There will be a “material impact” on Australian exports of coking coal, even if no further rain falls, Morgan Stanley Melbourne-based analysts Peter Richardson and Joel Crane wrote in a report yesterday. The cumulative loss of production is expected to maintain upward pressure on spot prices for several weeks to come, they said.
Coal stockpiles at Gladstone harbor in Queensland are “very low” after flooding shut a rail network, said Craig Walker, acting chief executive officer of Gladstone Ports Corp. Eighteen ships are waiting to load and 12 more are expected at the harbor in the next 10 days, he said.
‘Blue-Sky Scenario’
“The flooding will provide further upside to international coal prices and a floor to Chinese prices,” Helen Lau, an analyst at UOB-Kay Hian Ltd., said by telephone from Hong Kong. “It’ll easily take six to eight weeks, in a blue-sky scenario, before Australian supplies return to normal. Maybe it’ll take three to four months.”
Tata Steel Ltd. said it increased purchases in December in preparation for the adverse weather. The Mumbai-based company, India’s biggest producer of steel, ensured it had sufficient supplies, Managing Director H.M. Nerurkar said Jan. 4 by phone. To read more Bloomberg
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Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
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