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Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
 Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year as prices hovered near a six-year high.
Glencore and Japan’s Tohoku Electric Power Co are discussing an annual supply contract starting in October at $103 to $118 a metric tonne, analysts at Credit Suisse Group AG wrote in a report this week.
Previous efforts to reach a deal, for supplies starting in April this year, broke down.
Spot prices for Australia’s Newcastle coal, a regional benchmark, have been robust the past three months, trading near the highest in more than six years.
Glencore declined to comment on contract discussion. A spokesman for the Japanese utility said the company holds discussions with suppliers as needed, but declined to comment specifically on talks with Glencore. “Tohoku usually buys more volume under the October-September contract, therefore, a settlement is more likely to be reached this time,” said Prakash Sharma, research director at Wood Mackenzie Ltd, predicting they would eventually agree to around $110. “Even if the April episode is repeated, we don’t think it would be the end of the reference pricing system as some buyers in Japan and wider Asia continue to have a preference for contract pricing.”
Newcastle coal on the Globalcoal index hit $117.95 a ton in July, the highest since February 2012. The fuel has averaged about $105 in 2018, heading for the most since 2011.
Prices closed at $114.40 on Thursday.
Japanese coal users have raised concerns over Glencore’s expansion in Australia, where Japan gets about three-quarters of its thermal coal.
Jera Co, one of Japan’s biggest buyers, warned the nation’s antitrust regulators last year that Glencore’s purchase of Rio Tinto Group’s Hunter Valley mines in Australia would give it a dominant position as a supplier and hurt competition, Bloomberg News reported in December.
Analysts at Credit Suisse see possible support for those worries.
Major miners could avoid trading cargoes on platforms such as Globalcoal to keep visible pricing illiquid, they wrote in the September 12 note, citing a McCloskey report that Glencore won a tender to sell coal to Korean companies at $95 a tonne.
“We conclude that Glencore – the biggest Hunter Valley coal producer – would prefer to win contracts at lower prices than add liquidity to the spot market,” they wrote. “Extreme illiquidity has probably helped the Newcastle spot coal price remain so resilient.
It could be intentional – an expression of the pricing power that major miners are beginning to exercise over the price following consolidation.”
Glencore declined to comment on the Credit Suisse report.
Source: Bloomberg
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Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
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