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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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Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
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- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
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