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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, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
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- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
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