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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$107/tonne last year. Prices will remain elevated in 2019 given fundamental support for high energy thermal coal indexed to the GlobalCoal 6,000 kcal specification (14% max ash ar, 5,850 kcal/kg min nar).
Source: Wood Mackenzie
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Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
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Showing 1536 to 1540 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- The University of Queensland
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
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