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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, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
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- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Australian Coal Association
- London Commodity Brokers - England
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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