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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, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
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- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
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- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
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- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Australian Coal Association
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
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- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
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- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
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- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
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- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
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