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