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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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Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Planning Commission, India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
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