We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
 Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzie’s Near-Term Market Outlook cautions of falling metallurgical coal prices from now to Q4 2012, dropping from the current quarterly price of US$285/tonne for premium hard coking coal to under US$240/tonne. However, this price remains significantly above the marginal cost of production and longer-term drivers point to robust metallurgical coal demand in the Asia-Pacific market.
Prakash Sharma, Coal Market Analyst says, “Prices have started to fall from the last quarter and will continue to decline due to softening demand and the recovery of supply from flood-hit basins earlier in the year. The weakening demand is largely attributed to the global macroeconomic slowdown which appears to have accelerated through the summer in much of the developed world. Leading industrial indicators suggest a sharp deterioration in manufacturing activity – reflected by the decline in global steel production.”
Wood Mackenzie’s Senior Economist, Ed Rawle says, “The global economy has entered a period of extreme uncertainty. Wood Mackenzie’s global Gross Domestic Product growth forecast has been revised down from 3.1% to 2.8% in 2011, and 3.7% to 3.6% in 2012. But there are significant downside risks to this outlook. The Eurozone debt crisis remains unresolved and threatens to trigger a European banking crisis. Due to the sheer scale of the European banking sector, this is of major concern since it would likely lead to a global banking crisis with implications for us all.”
Despite near-term downward price movements, Wood Mackenzie says that several factors have the potential to turn this trend. Firstly, some mines have not fully recovered from the 2011 Queensland floods. The approaching wet season could lead to further delays in some mines attaining full production levels. Secondly, persistent worker-strikes at BHP Billiton Mitsubishi Alliance operated mines have the ability to tighten the market as these operations produce 26% of globally traded metallurgical coal. Lastly, US low-volatility supply has been curtailed by mine outages and changes in blending techniques following various mergers.
In the long-term , investors are still energized by the coking coal space with high margins in a current supply-constrained world. Mr. Sharma explains, ”Strong long-term demand is likely to support Mergers & Acquisitions (M&A) activity that has been ongoing since early 2008. Demand growth will be led by emerging markets with Asia accounting for 75% of global metallurgical coal demand by 2030. China and India will be key demand drivers, contributing to 60% of Asia Pacific’s total import demand.”
The growth potential of China and India can be attributed to their economic climate relative to the rest of the world. Mr. Rawle says, “The bright spot amidst the uncertainty continues to be the developing world. Specifically, we see China and much of Asia powering ahead, drawing on growth drivers that have been deliberately de-coupled from troubled developed economies over the past couple of years.”
Wood Mackenzie says that China’s reliance on coking coal imports will increase due to insufficient supply of high quality coking coal in the domestic market. China is forging ahead with plans to close all blast furnaces under 1,000 cubic metres and install new blast furnaces with capacities in excess of 2,000 cubic metres. The larger furnaces need coke produced from high-quality coking coal. As a result, a larger volume of this type of coal will be required and China will have to turn to suppliers of the likes of Australia, Mongolia and, to a lesser extent, Mozambique who are all expanding supply.
In summary, Mr. Sharma says, ”The industry should expect premium metallurgical coal prices to fall to a price below US$240/tonne from now until Q4 2012. Although further downside price risks remain given ongoing macroeconomic uncertainty and new sources of supply entering the market place, the constant threat of additional unpredictable mine outages and the upcoming rainy season in key supply basins should keep them from falling too far. Long-term demand also remains strong in emerging markets.”
Editor’s notes:
Wood Mackenzie is the most comprehensive source of knowledge about the world’s energy and metals industries. We analyse and advise on every stage along the value chain - from discovery to delivery, and beyond - to provide clients with the commercial insight that makes them stronger. For more information visit: www.woodmac.com. Wood Mackenzie is a research consulting company and it is our preference is to be referred to as research consultants.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
|
|
|
Showing 5051 to 5055 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Ministry of Mines - Canada
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
|
| |
| |
|
