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.
|
|
Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
|
|
|
Showing 1386 to 1390 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- VISA Power Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
|
| |
| |
|
