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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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Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
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- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
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