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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, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
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- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- The University of Queensland
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
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