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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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- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
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