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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, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
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Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
Tuesday, 20 January 15
INDIA TO SURPASS THE UNITED STATES AND BECOME THE SECOND-LARGEST COAL CONSUMER IN THE WORLD BY 2019 - IMF
COALspot.com: In 2013, coal added more primary energy than any other fuel and was the fastest-growing fossil fuel, enhancing its position as the se ...
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- White Energy Company Limited
- Central Electricity Authority - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Australian Coal Association
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
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