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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
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Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
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Showing 1421 to 1425 news of total 6871 |
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- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
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