COALspot.com keeps you connected across the coal world
  • SEPTEMBER 2019 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS INCLUDING POWER PRODUCERS FIXED AT US$ 65.79 A TON
  • SHARE YOUR CORPORATE COAL & SHIPPING NEWS WITH US - NEWS@COALSPOT.COM
  • WE WELCOME ARTICLE SUBMISSIONS FROM EXPERTS IN THE AREAS OF COAL, MINING, SHIPPING, ETC.

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

Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...


Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...


Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal. ...


Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize Overall it was a negative week for the Capesize market, with many routes losing ground.  A limited amount of time charter appeare ...


Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...


   1 2 3 4 5   
Showing 6 to 10 news of total 5538
News by Category
Popular News
 
Total Members : 26,487
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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