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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, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
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- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
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