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, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
|
|
|
Showing 1396 to 1400 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Australian Coal Association
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
|
| |
| |
|
