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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, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
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- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
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