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, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
...
Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
...
|
|
|
Showing 1461 to 1465 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
|
| |
| |
|
