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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, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
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