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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, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
Monday, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- SMC Global Power, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
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