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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, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
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- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
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