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Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
 COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply to continue into 2015 with current physical markets sloshed with roughly 10 million tons of thermal coal in excess of 2014 demand. The result is depressed and falling prices which has placed at risk many coal mining firms globally. However, current low prices belies great uncertainty in a market where the supply glut could rapidly turn into a squeeze, SGX said in its latest memo.
Bulking Up SGX Thermal Coal Derivatives
-- Growing uncertainty in Asian thermal coal markets reflected in rising price volatility from 3% to roughly 10%.
-- SGX will introduce API 4 and API 5 thermal coal derivatives on 4 Aug 2014 to complement to existing thermal coal contracts.
-- 50% margin credits for any pair of SGX thermal coal derivatives improve capital efficiencies.
According to SGX, although the surplus numbers look relatively puny next to a global output of 9 billion tons and an annual seaborne trade of a billion tons, it is the process of rebalancing such marginal supply (or marginal demand) that can sharply swing coal prices and create elevated levels of volatility. If the 10 million tons of excess supply gets absorbed by shocks or fresh demand, the seaborne coal market could quickly turn bullish with undersupply driving rising prices and higher volatility. In fact, 30-day active month historical price volatility has already risen significantly from 3% to approximately 10% in the last 2 months.
SGX further said, with physical coal trade flows heavily hinged on Asia, there is little doubt where a demand trigger could come from. Major consumers in China, India, and South East Asia look set to increase consumption as they fight poverty through rapid industrialization and urbanization—both of which require electricity.
For these countries, despite global concerns regarding pollution, coal remains the most affordable source of power. Meanwhile, in response to the recent glut, various government policies are being put in place to rationalize supply. Also, key producers in Indonesia and Australia are already in the midst of cutting production, said SGX
A combination of supply side discipline and rising demand may result in the re-balancing which could tilt market equilibrium. However, it is unknown when the effects of higher demand and reduced supply will hit the market.
SGX introduces API 4 and API 5 derivatives
Barring some exceptions, majority of international thermal coal deals are priced against an index or basket of indices. Many power generators in the region price electricity against index. This continues to create rising demand for index-linked thermal coal derivatives in Asia to meet hedging needs of miners, power gencos, and traders alike.
In responding to that trend, SGX will expand its current thermal coal derivative offerings from SGX API8 CFR China Coal Derivatives and SGX IHS McCloskey Indonesian Sub-Bit FOB Swaps/ Futures to also include SGX API4 FOB Richards Bay Coal Derivatives and SGX API5 FOB Newcastle Coal Derivatives.
The expanded suite will facilitate more effective hedging of thermal coal prices in Asia. The two new thermal coal contracts will be launched on 4 August 2014, alongside two coking coal derivative products. (please click here to find out more).
For more information on SGX Commodities, please visit SGX
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Friday, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
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- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Economic Council, Georgia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
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