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Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
 COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and slower steel demand growth, says SGX Commodities 2014 Review.
According to SGX, spot prices remained depressed through 2014 as ‘take or pay’ continued to wreck havoc. Looking forward, deflationary pressures may hamper hopes of a near-term recovery, while policy changes have created further lingering uncertainties. Coking coal FOB & CFR prices declined 15.0% and 18.3% respectively during the first three months of the year, and remained relatively stable within a $10 per tonne range thereafter.
SGX’s commodities 2014 review further noted that, a combination of persistent oversupply, ample stockpiles within China, and lackluster underlying steel demand kept prices low through the year. In August 2014, SGX launched coking coal derivatives (FOB Australia & CFR China) in response to the increasing trend towards index-linked pricing across the industry.
A variety of factors have kept coking coal prices depressed for longer than many had previously forecast. Such factors include:
(i) a drive by major producers to lower unit costs by improving production efficiencies and increasing production (thereby also increasing market share);
(ii) ‘take or pay ’ rail commitments in Australia, often making it more economical to continue producing at a loss than to cease production (NB. Australia accounts for more than half of seaborne supply); and
(iii) cost deflation in the domestic Chinese coal industry.
Looking forward, SGX’s Commodities 2014 Review report says that, while many analysts have been calling a bottom in the coking coal price, the timing of any meaningful recovery remains far from clear. Supply cuts are indeed emerging. However, deflationary pressures such as falling resource currencies and a slump in oil prices may hinder the prospect of any significant recovery in the near-term. With a relatively flat cost curve, FX may also be an important variable.
Furthermore, there is uncertainty over the likely medium-term impact of the reduction in China’ s export tax on coking coal from 10% to 3% (effective 1 Jan 2015); Japanese and Korean mills used to procure coking coal from China and, while relative costs will be a factor, there may be a strategic argument to diversifying supply, SGX concluded.
SGX also launched coking coal derivatives in August 2014 in response to the increasing trend towards spot and index-linked pricing.
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Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
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- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
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