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.
|
|
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
|
|
|
Showing 4941 to 4945 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- White Energy Company Limited
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
|
| |
| |
|
