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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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Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
Wednesday, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
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- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
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