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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, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Independent Power Producers Association of India
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