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, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
|
|
|
Showing 1526 to 1530 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Planning Commission, India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
|
| |
| |
|
