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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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Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
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