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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.
Wood Mackenzie senior consultant Yu Zhai said:
"We estimate China's seaborne metallurgical coal imports to reduce by 3 million tonnes (Mt) in 2019 as a result of China's coal import restriction. The high quality of seaborne coal, and difficulties securing alternative coal domestically, should insulate coal exporters from much deeper cuts, despite strong signals from China. Australia would account for most of the volume reduction as it represented over 75% of China's seaborne metallurgical imports in 2018. Australia exported around 36 Mt metallurgical to China last year, makign up 20% of Australia's total exports.
"China's seaborne thermal coal imports is estimated to reduce by 15 Mt in 2019, taking into account the risk of wider coal import restriction. Australia could also be most affected by a similar restriction."
On implications on metallurgical coal, Wood Mackenzie's research director Robin Griffin said:
"A prolonged China-wide ban could have enormous implications for markets in both countries. The possibility of adverse impacts on China suggest a long term ban is unlikely."
Some of the most prominent impacts could include:
- Chinese domestic prices would spike. Prices for low sulphur premium coals in particular would rise as importers scramble to replace Australian coals. We expect that short term replacements will be hard to find domestically. There is a heavy reliance among coastal mills on low sulphur hard coking coals from Luilin County in Shanxi. There are other similar coals in Anze County but these are typically used inside Shanxi by merchant coke makers due to high transport costs to the coast. As an indication of what might happen during an import ban, domestic coking coal futures jumped at the end of January on the news of import controls. Chinese steel makers would ultimately see much costlier coke blends.
- Seaborne prices would decouple from Chinese domestic prices. We expect FOB Australian prices, particularly for premium and 2nd tier HCCs, would come under severe pressure as Australian exporters look to sell excess coal into other markets. The decoupling would be of most benefit to steel makers elsewhere in Asia, and Europe, who would see a fall in coal costs. Australia's competitors in the metallurgical coal trade might see greater opportunities into China, but Canada and the US are already subject to some quality and tariff-related restrictions into China, limiting their potential upside. And of course, lower seaborne prices would offset the benefit of any extra demand from China.
- Mongolian coal imports could rise substantially in order to replace Australian coals. Weaker coals make up the majority of Mongolian exports so in the short term direct replacements for Australian coals would be limited. However, new border crossing technology is being implemented to speed up trucking clearances, which would facilitate higher exports.
- A longer-term ban would force Chinese coastal mills to amend coke blends. There are options for mills to make blend changes, but not without implications. There are two common blends that could be utilised which would result in higher sulphur, higher ash, and lower CSR coke products:
- Use of more high sulphur (1.8% total sulphur) premium HCCs such as Luilin #9, blended with Mongolian 2ndtier HCCs such as the #3 product to produce a tier 1 coke.
- Use of mid-sulphur Shanxi premium HCCs (1-1.3% total sulphur) with low sulphur (0.5% total sulphur) 1/3 coking coals to produce a lower quality, but still a tier 1 coke.
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Monday, 09 September 19
ULTRAMAX: ASIA A 58,000-TONNER FIXED DELIVERY FUZHOU, VIA INDONESIA, REDELIVERY CHINA, AT $12,800
Capesize
0px The market reached new heights this week as the 5TC topped $38,014, a level not seen in the sector since 2013. Fridays 5TC closed ...
Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
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- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- ASAPP Information Group - India
- The University of Queensland
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