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.
|
|
Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
|
|
|
Showing 1451 to 1455 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
|
| |
| |
|
