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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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Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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Showing 1416 to 1420 news of total 6871 |
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- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
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