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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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Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
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