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, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
Wednesday, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
|
|
|
Showing 1471 to 1475 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
|
| |
| |
|
