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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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Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
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- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
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