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.
|
|
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
|
|
|
Showing 4986 to 4990 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
|
| |
| |
|
