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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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Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
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 ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
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- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
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