COALspot.com keeps you connected across the coal world
  • CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
  • CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA.
  • THE DAILY COAL BURN RATE AT CHINA'S SIX MAJOR COASTAL POWER PLANTS HAS COME IN TODAY AT 421,000 TONS - COMMODORE RESEARCH
  • FEB 2020 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS INCLUDING POWER PRODUCERS FIXED AT US$ 66.89 A TON

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


WTI Crude Oil

BRENT Crude Oil

Search News
Latest CoalNews Headlines
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets in the Pacific.
 
Managing director Shane Stephan said coal was being diverted to other markets where demand remained strong but at lower prices, because Chinese demand had dried up.
 
New Hope revenue from exports to China was down sharply to $11.8 million over the six months to January 31, compared with $78.7 million for the same period last year.
 
However, this was more than offset by increased sales into Japan, Taiwan and South Korea as New Hope’s revenue jumped 21 per cent to $616.7 million.
 
Mr Stephan said China was such a big producer and consumer that its actions dominated whatever happened in the Pacific market for thermal coal, with the biggest price falls evident for lower-grade product.
 
“It only needs to have a short period of imbalance between production and consumption and it can totally swamp the seaborne trade in the Pacific,” he said.
 
“So you end up with a very volatile 5500 kcal/kg price.
 
“That is what is going on now. Currently, China is not demanding imports of thermal coal and so that coal is finding another home somewhere else.”
 
Although there was no denying the impact that China’s actions, which have included long delays in processing imports, have had on price, Mr Stephan said the situation was nothing new and showed coal exporters had to be nimble and willing to shift market focus.
 
Asked whether he thought the Chinese import bottleneck was politically motivated, Mr Stephan said the drivers were not clear.
 
“It is not transparent … it has happened before and it will happen again,” he said.
 
The New Hope share price fell more than 11 per cent to $3.89 amid the concerns about Chinese demand and the company’s ongoing battle to secure mining approvals in Queensland.
 
Washington H. Soul Pattison-controlled New Hope’s earnings before interest, tax, depreciation and amortisation, before non-regular items, for the first half was $285.1 million, up 31 per cent on the same time last year.
 
Net profit after tax before non-regular items jumped 33 per cent to $159.8 million following New Hope increasing its share in the Bengalla mine in the Hunter Valley to 70 per cent after Rio Tinto sold its stake for $US606 million ($854 million).
 
New Hope is moving to 80 per cent ownership with the soon-to-be completed acquisition of Mitsui’s 10 per cent share.
 
Increased production at Bengalla saw the mine deliver a net profit after tax of $126.6 million, while Queensland mining operations contributed a NPAT of $110.9 million in a record first half for New Hope in which it declared a fully franked dividend of 8¢ a share.
 
Approval hurdles
Mr Stephan hit out at the approval process for new coal mines in Australia, highlighting the need for New Hope to keep up supply to its customers.
 
The company remains anxious to secure the necessary approvals for the continuation of the New Acland mine in Queensland after years of uncertainty.
 
It welcomed the Queensland Land Court decision to recommend the approval of stage three of the mine and a subsequent decision by the Department of Environment and Science in its favour, but warned “we have a number of other steps to go through before the future of the mine is secured”.
 
Mr Stephan said Australia was losing market share to the US and Russian competitors because of the minefield approval process.
 
“The approval processes for coal in Australia are incredibly challenging and complex and expensive,” he said.
 
“The best evidence of that is the fact that coal prices have effectively doubled in Australian-dollar terms from 2015 to now and yet we are not seeing any material change in the volume of thermal coal being exported out of Australia.”
 
Thermal coal exports have hovered near 200 million to 205 million tonnes for the past four years.
 
The Adani saga in Queensland, Rio’s exit from thermal coal, Glencore’s commitment to a production cap and a NSW Land and Environment Court ruling last month that blocked Gloucester Resources’ proposed Rocky Hill coking coal mine on the ground that it would hasten climate change, have rocked industry confidence despite some impressive profit results.
 
“It is so challenging to get approvals for even just brownfields extensions of mines in Australia,” Mr Stephan said.
 
“What is happening is that we are losing market share to Russia, we are losing market share to the Americans.
 
“Our customers in Asia need the coal. The demand is there when as a country we are not in a position to meet that demand, so we are losing market share.”
Source: The Australian Financial Review


If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...


Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...


Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...


Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...


Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan  Coal  Companies  and  Adaro  Me ...


   1 2 3 4 5   
Showing 6 to 10 news of total 5755
News by Category
Popular News
 
Total Members : 26,761
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • GMR Energy Limited - India
  • Shree Cement - India
  • Interocean Group of Companies - India
  • Indian Oil Corporation Limited
  • Fearnleys - India
  • TANGEDCO India
  • Bukit Makmur.PT - Indonesia
  • Kobexindo Tractors - Indoneisa
  • Gujarat Mineral Development Corp Ltd - India
  • Kaltim Prima Coal - Indonesia
  • Kohat Cement Company Ltd. - Pakistan
  • Coalindo Energy - Indonesia
  • Ceylon Electricity Board - Sri Lanka
  • Berau Coal - Indonesia
  • Simpson Spence & Young - Indonesia
  • The University of Queensland
  • Bharathi Cement Corporation - India
  • KEPCO - South Korea
  • Bayan Resources Tbk. - Indonesia
  • Central Java Power - Indonesia
  • Core Mineral Indonesia
  • globalCOAL - UK
  • GNFC Limited - India
  • KOWEPO - South Korea
  • CESC Limited - India
  • Tanito Harum - Indonesia
  • Karaikal Port Pvt Ltd - India
  • Makarim & Taira - Indonesia
  • International Coal Ventures Pvt Ltd - India
  • Trasteel International SA, Italy
  • South Luzon Thermal Energy Corporation
  • Kalimantan Lumbung Energi - Indonesia
  • Gupta Coal India Ltd
  • PLN Batubara - Indonesia
  • Thailand Anthracite
  • World Coal - UK
  • Romanian Commodities Exchange
  • Pinang Coal Indonesia
  • JPMorgan - India
  • Indian School of Mines
  • Independent Power Producers Association of India
  • NALCO India
  • Mjunction Services Limited - India
  • TNB Fuel Sdn Bhd - Malaysia
  • Gujarat Electricity Regulatory Commission - India
  • TNPL - India
  • Straits Asia Resources Limited - Singapore
  • Mercuria Energy - Indonesia
  • Billiton Holdings Pty Ltd - Australia
  • MS Steel International - UAE
  • MEC Coal - Indonesia
  • Sical Logistics Limited - India
  • Bhatia International Limited - India
  • Price Waterhouse Coopers - Russia
  • Indorama - Singapore
  • Thriveni
  • Mitsui
  • Noble Europe Ltd - UK
  • IEA Clean Coal Centre - UK
  • Kobe Steel Ltd - Japan
  • Lanco Infratech Ltd - India
  • Sree Jayajothi Cements Limited - India
  • Georgia Ports Authority, United States
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Renaissance Capital - South Africa
  • VISA Power Limited - India
  • Inspectorate - India
  • EIA - United States
  • CIMB Investment Bank - Malaysia
  • Thomson Reuters GRC
  • Chettinad Cement Corporation Ltd - India
  • Barclays Capital - USA
  • Lafarge - France
  • Miang Besar Coal Terminal - Indonesia
  • ANZ Bank - Australia
  • Siam City Cement - Thailand
  • Gujarat Sidhee Cement - India
  • India Bulls Power Limited - India
  • GHCL Limited - India
  • Larsen & Toubro Limited - India
  • PTC India Limited - India
  • Peabody Energy - USA
  • Total Coal South Africa
  • Rio Tinto Coal - Australia
  • WorleyParsons
  • Bukit Asam (Persero) Tbk - Indonesia
  • Indonesia Power. PT
  • Anglo American - United Kingdom
  • UBS Singapore
  • BRS Brokers - Singapore
  • Heidelberg Cement - Germany
  • McKinsey & Co - India
  • Jorong Barutama Greston.PT - Indonesia
  • Star Paper Mills Limited - India
  • Thai Mozambique Logistica
  • EMO - The Netherlands
  • Ministry of Mines - Canada
  • KPCL - India
  • KPMG - USA
  • Asmin Koalindo Tuhup - Indonesia
  • New Zealand Coal & Carbon
  • Indonesian Coal Mining Association
  • Attock Cement Pakistan Limited
  • Electricity Generating Authority of Thailand
  • Indika Energy - Indonesia
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Merrill Lynch Commodities Europe
  • Argus Media - Singapore
  • Coastal Gujarat Power Limited - India
  • Jatenergy - Australia
  • Maharashtra Electricity Regulatory Commission - India
  • Bahari Cakrawala Sebuku - Indonesia
  • Aditya Birla Group - India
  • Adaro Indonesia
  • Vale Mozambique
  • Ind-Barath Power Infra Limited - India
  • Kartika Selabumi Mining - Indonesia
  • European Bulk Services B.V. - Netherlands
  • Maruti Cements - India
  • Inco-Indonesia
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Goldman Sachs - Singapore
  • Runge Indonesia
  • Medco Energi Mining Internasional
  • Agrawal Coal Company - India
  • Petrosea - Indonesia
  • Jaiprakash Power Ventures ltd
  • Bangladesh Power Developement Board
  • Borneo Indobara - Indonesia
  • Vedanta Resources Plc - India
  • Siam City Cement PLC, Thailand
  • Neyveli Lignite Corporation Ltd, - India
  • U S Energy Resources
  • Chamber of Mines of South Africa
  • Cemex - Philippines
  • JPower - Japan
  • Barasentosa Lestari - Indonesia
  • Moodys - Singapore
  • DBS Bank - Singapore
  • Platts
  • Xstrata Coal
  • Mitsubishi Corporation
  • Surastha Cement
  • Japan Coal Energy Center
  • McConnell Dowell - Australia
  • Humpuss - Indonesia
  • Mercator Lines Limited - India
  • Standard Chartered Bank - UAE
  • Adani Power Ltd - India
  • Manunggal Multi Energi - Indonesia
  • Binh Thuan Hamico - Vietnam
  • Bhushan Steel Limited - India
  • Latin American Coal - Colombia
  • Russian Coal LLC
  • Essar Steel Hazira Ltd - India
  • Videocon Industries ltd - India
  • The Treasury - Australian Government
  • Eastern Energy - Thailand
  • Madhucon Powers Ltd - India
  • SUEK AG - Indonesia
  • ASAPP Information Group - India
  • IOL Indonesia
  • UOB Asia (HK) Ltd
  • Jindal Steel & Power Ltd - India
  • Deutsche Bank - India
  • Antam Resourcindo - Indonesia
  • Port Waratah Coal Services - Australia
  • Enel Italy
  • IHS Mccloskey Coal Group - USA
  • Posco Energy - South Korea
  • Wilmar Investment Holdings
  • IMC Shipping - Singapore
  • Metalloyd Limited - United Kingdom
  • Minerals Council of Australia
  • PetroVietnam
  • Vizag Seaport Private Limited - India
  • Credit Suisse - India
  • Bukit Baiduri Energy - Indonesia
  • TeaM Sual Corporation - Philippines
  • PetroVietnam Power Coal Import and Supply Company
  • BNP Paribas - Singapore
  • ING Bank NV - Singapore
  • Planning Commission, India
  • Economic Council, Georgia
  • Riau Bara Harum - Indonesia
  • London Commodity Brokers - England
  • Gresik Semen - Indonesia
  • ETA - Dubai
  • Directorate General of MIneral and Coal - Indonesia
  • Malabar Cements Ltd - India
  • J M Baxi & Co - India
  • APGENCO India
  • Bhoruka Overseas - Indonesia
  • CoalTek, United States
  • Alfred C Toepfer International GmbH - Germany
  • Eastern Coal Council - USA
  • Sindya Power Generating Company Private Ltd
  • Petrochimia International Co. Ltd.- Taiwan
  • Meenaskhi Energy Private Limited - India
  • IBC Asia (S) Pte Ltd
  • Cosco
  • Maheswari Brothers Coal Limited - India
  • Edison Trading Spa - Italy
  • SRK Consulting
  • GAC Shipping (India) Pvt Ltd
  • Shenhua Group - China
  • Tata Chemicals Ltd - India
  • Grasim Industreis Ltd - India
  • Arch Coal - USA
  • Vijayanagar Sugar Pvt Ltd - India
  • Krishnapatnam Port Company Ltd. - India
  • Coal India Limited
  • Rudhra Energy - India
  • Malco - India
  • Globalindo Alam Lestari - Indonesia
  • Carbofer General Trading SA - India
  • Holcim Trading Pte Ltd - Singapore
  • Bangkok Bank PCL
  • Australian Commodity Traders Exchange
  • Cement Manufacturers Association - India
  • Xindia Steels Limited - India
  • Maersk Broker
  • Ernst & Young Pvt. Ltd.
  • RBS Sempra - UK
  • Cargill India Pvt Ltd
  • Parliament of New Zealand
  • Australian Coal Association
  • Africa Commodities Group - South Africa
  • Banpu Public Company Limited - Thailand
  • Merrill Lynch Bank
  • Thiess Contractors Indonesia
  • Power Finance Corporation Ltd., India
  • Altura Mining Limited, Indonesia
  • LBH Netherlands Bv - Netherlands
  • Orica Mining Services - Indonesia
  • Pendopo Energi Batubara - Indonesia
  • Mechel - Russia
  • Coal and Oil Company - UAE
  • Kideco Jaya Agung - Indonesia
  • Clarksons - UK
  • ICICI Bank Limited - India
  • Singapore Mercantile Exchange
  • CCIC - Indonesia
  • Dalmia Cement Bharat India
  • Leighton Contractors Pty Ltd - Australia
  • Idemitsu - Japan
  • Sinarmas Energy and Mining - Indonesia
  • Kumho Petrochemical, South Korea
  • GB Group - China
  • Geoservices-GeoAssay Lab
  • Toyota Tsusho Corporation, Japan
  • PowerSource Philippines DevCo
  • Samsung - South Korea
  • Arutmin Indonesia
  • Savvy Resources Ltd - HongKong
  • ACC Limited - India
  • Ministry of Finance - Indonesia
  • The India Cements Ltd
  • Cigading International Bulk Terminal - Indonesia
  • Coeclerici Indonesia
  • Sucofindo - Indonesia
  • Bank of China, Malaysia
  • Formosa Plastics Group - Taiwan
  • Cardiff University - UK
  • Platou - Singapore
  • Coal Orbis AG
  • Reliance Power - India
  • GVK Power & Infra Limited - India
  • Aboitiz Power Corporation - Philippines
  • PNOC Exploration Corporation - Philippines
  • Freeport Indonesia
  • World Bank
  • Maybank - Singapore
  • Orica Australia Pty. Ltd.
  • Sakthi Sugars Limited - India
  • PLN - Indonesia
  • Wood Mackenzie - Singapore
  • Glencore India Pvt. Ltd
  • Samtan Co., Ltd - South Korea
  • White Energy Company Limited
  • Directorate Of Revenue Intelligence - India
  • Kapuas Tunggal Persada - Indonesia
  • SMG Consultants - Indonesia
  • Uttam Galva Steels Limited - India
  • Mitra SK Pvt Ltd - India
  • Timah Investasi Mineral - Indoneisa
  • Indogreen Group - Indonesia
  • Bulk Trading Sa - Switzerland
  • Vitol - Bahrain
  • The State Trading Corporation of India Ltd
  • Ambuja Cements Ltd - India
  • Permata Bank - Indonesia
  • Commonwealth Bank - Australia
  • HSBC - Hong Kong
  • SASOL - South Africa
  • NTPC Limited - India
  • Britmindo - Indonesia
  • Thermax Limited - India
  • bp singapore
  • Mintek Dendrill Indonesia
  • Indo Tambangraya Megah - Indonesia
  • Ministry of Transport, Egypt
  • Global Coal Blending Company Limited - Australia
  • Coaltrans Conferences
  • Energy Link Ltd, New Zealand
  • OCBC - Singapore
  • Tamil Nadu electricity Board
  • Karbindo Abesyapradhi - Indoneisa
  • OPG Power Generation Pvt Ltd - India
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Qatrana Cement - Jordan
  • SGS (Thailand) Limited
  • Bank of America
  • Marubeni Corporation - India
  • Oldendorff Carriers - Singapore
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Intertek Mineral Services - Indonesia
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Deloitte Consulting - India
  • Tata Power - India
  • Central Electricity Authority - India
  • Asia Cement - Taiwan
  • CNBM International Corporation - China
  • Salva Resources Pvt Ltd - India
  • Parry Sugars Refinery, India
  • Ince & co LLP
  • Rashtriya Ispat Nigam Limited - India
  • Sojitz Corporation - Japan
  • Panama Canal Authority
  • Asian Development Bank
  • Infraline Energy - India