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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, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
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- Planning Commission, India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
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