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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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Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
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