We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
 The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly diverged from prices and indices for lower-grade coal, such as the Indonesian Coal Index4 (ICI4), since mid-2018. Fitch Ratings has observed the effect of this in the wider discounts in the coal price realisations of rated Indonesian coal miners compared with the Newcastle 6,000kcal index.
The coal that meets the Newcastle 6,000kcal specifications is generally supplied by a few large Australian miners and consumed mainly in Japan and South Korea. In our opinion, the consolidation of producers of Australian thermal coal has allowed tighter control over supply, resulting in its price movement pulling away from the Chinese Qinghuangdao (QHD) 5,500kcal coal price index and ICI4 benchmark. In contrast, the QHD coal price index to a large extent reflects the domestic production, supply and government policies for coal in China and the exchange rate between the yuan and the US dollar. The Newcastle index's decline in the past few months has been slower than that of the QHD index.
Indonesia exports the majority of its coal to China and we expect the QHD index to be a bigger driver of Indonesian low calorific value (CV) coal prices than the more popular Newcastle 6,000kcal index. This is already apparent in the ICI4 index trading at a relatively stable discount of between 50% and 59% since 2015 to the QHD 5,500kcal index, compared to discounts of between 40% and 66% versus the Newcastle 6,000kcal index. The ICI4 index drives the earnings profiles of most Indonesian miners, including the five that are rated by Fitch. The recent weakness in Indonesian coal prices is due to a rise in supply driven by the government's effort to boost its forex reserves and lacklustre domestic demand growth.
Fitch Ratings has factored in the wider spread in its analysis of Indonesian coal companies by using larger discounts to the Newcastle 6000kcal benchmark. Further, Fitch uses mid-cycle commodity price assumptions, given its policy of rating through-the-cycle, which limits the impact of the bigger gap. Our coal price assumptions (Newcastle 600kcal/kg benchmark) used for forecasts are USD79/tonne in 2019, USD77/tonne in 2020 and USD74/tonne thereafter, compared with the current market price of over USD100/tonne. Fitch believes that the bigger discounts of prices for low-to-mid CV coal relative to the Newcastle 6000 kcal price are themselves not likely to affect the credit profiles of Fitch-rated Indonesian coal companies.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
Wednesday, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
|
|
|
Showing 1446 to 1450 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Economic Council, Georgia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- White Energy Company Limited
|
| |
| |
|
