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.
|
|
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
Thursday, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
|
|
|
Showing 4951 to 4955 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sakthi Sugars Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
|
| |
| |
|
