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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, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
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- MS Steel International - UAE
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
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