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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, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
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- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Planning Commission, India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Mercator Lines Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
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