COALspot.com keeps you connected across the coal world
  • SEPTEMBER 2020 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS INCLUDING POWER PRODUCERS FIXED AT US$ 49.42 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
Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Allied LogoHere we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the summer months, one would be (theoretically) extra bullish in terms of what to expect for the final part of 2019, said Thomas Chasapis, Research Analyst of Allied shipping Research in his latest report.

However, can the current positive dynamics be sustained over the next three months? According to Thomas Chasapis many views have been expressed in respect to the true state of the dry bulk market. At this point, it seems as though the most vital question is as to whether the market has any direction at all (with the hope of some sort rebalancing soon), or whether the recent summer trends in the freight market have created ample artificial noise in a market that is currently stagnant.

Thomas Chasapis further noted, the dry bulk freight market is already on a downward correction, hardly a surprise, given that the balance point of the market does not seem to be by any measure with a BDI of above 2,500bp (at least for now). This has been expressed emphatically in the paper market, with current forward curves indicating massive corrections moving forward. Notwithstanding this, future contracts for the BCI-5TC average for the final quarter have been formed at slightly above US$ 25,000/day. It is true that this level is an extreme discounted when compared to where the current freight market is at, but when we consider that we are talking about a 3-month average figure which is above US$ 10,000/day more than the year-to-date average.

Just remember what we were seeing for similar contracts exactly one year earlier and at what levels the market closed off the final three months of 2018. So, are we truly faced with a pessimistic view right now? The reality is slightly more ambiguous as we shift the focus over to the macroeconomic indicators. Y-o-y massive corrections have brought with them a huge wave of negativism towards the market.

According to Thomas Chasapis, forward contracts for 2020 felt a correction of around US$ 5,000/day, while 2021 and the years beyond that were a little less so effected though still noting significant corrections. All-in-all, even under these conditions, there are many positive indicators to be seen as well. If the current forward curve is "right", the freight market will be on time to catch-up and finish the year with an average of at least on par with that of 2018 (if not higher). Despite the impressive recovery, many will probably still view the year as a step back. However, it is interesting to note how this is translated when we assess asset prices into the mix? Taking as general indication the value of a 5yr old Capesize vessel, year-to-date the average figure has eased back by roughly 11%, while, given the overall stability of second hand values, we can expect this discount to remain relatively the same during the remaining months of the year. So, in terms of an earnings to price ratio analysis, this would suggest that the market is in a much better state (y-o -y) in relative terms. However, things change when we compare this to the risk profile involved. At this point, the excessive volatility levels noted in freight rates would point to the current prices being in theory fairly "expensive".
 
This however is only partially true, as volatility measures are agnostic to any market direction and only measure the difference from the average (either on the positive or the negative side). Given the aggressive upward movement in freight rates as of late, the standard deviation inevitably gives an exaggerated result. However, when you take into consideration what we have been seeing in the futures market, you may well find further ground to support the indication that has been given from the earnings to price ratio side, Thomas Chasapis concluded.


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

Recent News

Thursday, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...


Thursday, 10 September 20
DRY BULK SHIPPING: CHINA'S DEMAND KEEPING THE DRY BULK MARKET GOING - PETER SAND | BIMCO
Overview An impressive recovery in Chinese dry bulk imports has protected the industry from the effects of falling demand in the rest of the wo ...


Thursday, 10 September 20
TANKER SHIPPING: FREIGHT RATES BACK AT LOSS-MAKING LEVELS AFTER 12 VERY PROFITABLE MONTHS - BIMCO
Overview A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil product ...


Thursday, 10 September 20
INDIA'S COAL IMPORTS STUMBLE IN AUGUST, RAISING RISK OF SLOW RECOVERY - REFINITIV | BANCHERO COSTA
After posting a mild recovery in July, India's coal imports have stumbled in August as the South Asian nation battles to  restart  it ...


Thursday, 10 September 20
THE FIRST 8 MONTHS OF 2020, INDONESIA EXPORTED 217.4 MLN TONNES OF COAL BASED ON REFINITIV - BANCHERO COSTA
The coal market has been hit by a weaker global economy as a result of COVID-19 pandemic and falling industrial  electricity  demand  ...


   2 3 4 5 6   
Showing 16 to 20 news of total 6099
News by Category
Popular News
 
Total Members : 27,095
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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