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