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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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Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
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- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Marubeni Corporation - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
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