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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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Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
Tuesday, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
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- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
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