We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 been hit in early February due to seasonality of purchasing in the lead up to Chinese New Year and customs delays impacting Australian vessels into China. Will this move be another short-term blip and mirror the volatility seen last year, or is a broader correction at play?
Australian high CV thermal coal supply to remain tight
In 2019, demand growth in the Asia-Pacific market will require an extra 3 million tonnes of bituminous thermal coal. By 2023, we anticipate a further 34 Mtpa of bituminous coal demand in the region, led by India, Vietnam, South Korea, Pakistan and Malaysia.
While demand is increasing, Australian high CV thermal coal supply fell last year and will only partially recover this year. The recovery might be further constrained should producers target more semi-soft sales.
The ramp up of MACH Energy’s Mt Pleasant coal mine in New South Wales caters for nearly all the change, with high CV supply (ex. Mt Pleasant) essentially flat over 2019-21.
High CV supply could retreat again in 2022 due to lower output at Glencore’s Mt Owen mine and a possible closure at Liddell. Coal quality at BHP’s Mt Arthur mine is also expected to gradually decline. By 2023, we see a growing likelihood of a return to 2018 production levels.
Australian high CV thermal coal supply 2018-2023
Mine performance and quality issues limit supply response
The fall in Australian high CV thermal coal supply helped prices move nearly US$20/tonne higher in 2018. Widening price spreads between high CV and high ash thermal coal begged questions as to why we weren’t seeing a supply response? Part of that answer rests on specific constraints at a few large thermal coal mines in Australia, which contrary to expectations of growth, actually recorded declines in output. Some mines had short-term sequencing changes, while others battled with falling product quality. Pricing differentials between high CV thermal and semi-soft also played a part, with lower semi-soft supply offsetting the fall in high CV supply.
Two of the largest mines in New South Wales, BHP’s Mt Arthur and Yancoal/Glencore’s HVO, reported declines in output in 2018 of 4% and 11% respectively. In Mt Arthur’s case, saleable output was constrained by a lower washing yield, declining coal quality and adverse weather. At HVO, mine plans had been remodelled following a strategic review of operations following the takeover from Rio Tinto. Meanwhile, output at Whitehaven’s underground Narrabri mine fell nearly 30% as it worked around a geological fault. We also understand a number of Glencore’s mines were technically constrained in their ability to increase higher CV volumes by washing capacity.
Our expectations for near term thermal coal supply growth have moderated given recent M&A and an increasing focus on capital allocation. The latest plan at HVO is to gradually recover to 15 Mtpa with a focus on efficiency and productivity improvement, rather than further growth to 17 Mtpa. At Mt Arthur, we expect production to peak at a lower rate of 21 Mtpa, down from 22.5 Mtpa, given updated capital plans and optimisation of the operation.
On a price standpoint, we expect prices to recover and average US$98/tonne this year, down from US$107/tonne last year. Prices will remain elevated in 2019 given fundamental support for high energy thermal coal indexed to the GlobalCoal 6,000 kcal specification (14% max ash ar, 5,850 kcal/kg min nar).
Source: Wood Mackenzie
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
|
|
|
Showing 1381 to 1385 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
|
| |
| |
|
