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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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Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
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- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Economic Council, Georgia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
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