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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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Monday, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
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- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
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