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Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
 "Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expected to substantially ease in 2019, even as macro concerns of slowing global GDP growth, trade issues and easing commodity prices create cause for caution," said Peabody Executive Vice President and Chief Financial Officer Amy Schwetz, as reported in Peabody Reports Earnings For Quarter and Year Ended December 31, 2018.
Continued tightness in seaborne thermal supply-demand dynamics in 2018 contributed to ongoing strength in the 6,000-specification Newcastle thermal price. The fourth quarter average prompt Newcastle thermal price eased 10 percent from the third quarter 2018 to $105 per tonne. The spread between the 6,000 Newcastle specification product and the lower-quality 5,500 product tightened to an average of approximately $42 per tonne in the fourth quarter compared to an average of approximately $48 per tonne in the third quarter.
Quarter and Year Ended December 31, 2018 report of the Peabody further noted that, the ongoing importance of the Asia/Pacific region was again highlighted in 2018. Despite import restrictions enacted by the Chinese government, Chinese thermal coal imports rose approximately 16 million tonnes in 2018, as domestic supply was outpaced by increased domestic power consumption, which grew at the highest rate since 2011. India thermal coal imports increased 18 percent to 167 million tonnes as rising domestic coal production fell short of continued strong domestic demand. In addition, ASEAN nations expanded imports by 19 million tonnes in 2018 to support ongoing urbanization. Globally, coal-fueled power plants continue to be built, with approximately 56 gigawatts of new capacity added in 2018, with another some 60 gigawatts of additional capacity expected to come online in 2019.
On the supply-side, Peabody said, lower-quality Indonesia exports rose 39 million tonnes in 2018 over the prior year primarily in response to increased demand from China and India. Both Australian and U.S. thermal coal exports remained strong, up 4 percent and an estimated 34 percent, respectively, year-over-year.
Turning to metallurgical coal, premium hard coking coal spot pricing remained high in the fourth quarter, averaging $221 per tonne. The fourth quarter index settlement price for premium hard coking coal was $212 per tonne compared to $192 per tonne in the prior year. Pricing for the low-vol PCI product also continued its strength, with a fourth quarter benchmark settlement of $139 per tonne compared to $127.50 per tonne in the prior year. Looking ahead to the first quarter 2019, the low-vol PCI benchmark price was set at $141 per tonne.
Seaborne metallurgical coal supply/demand balance remains favorable. India continues to demand metallurgical coal to meet its steel making needs, with metallurgical coal imports rising 5 percent in 2018 over the prior year. However, Chinese metallurgical coal imports eased 5 million tonnes due to an increased reliance on domestic supplies and scrap steel usage. Increased steel production from ASEAN nations also continues to support seaborne metallurgical coal demand.
Even with continued strength in pricing, supply growth remains muted with metallurgical exports from Australia and the U.S. rising 7 million tonnes and an estimated 4 million tonnes, respectively in 2018.
Within the U.S., a mix of higher seasonal demand, increased fourth quarter natural gas prices and ongoing strength in exports resulted in continued stockpile reductions despite substantial plant retirements in 2018.
Total U.S. electricity generation rose 4 percent in 2018, while coal demand fell 4 percent. However, a 16 million ton decline in total U.S. coal production and an estimated 18 million ton increase in U.S. thermal exports led to utility coal stockpiles falling 37 million tons since 2017, reaching the lowest levels since 2005. As a result of continued strength in seaborne thermal coal pricing, the Illinois Basin is forecasted to be the largest thermal exporting region in the United States.
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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
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