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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, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
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- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
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