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Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are being re-routed to other Asian countries open for business; but at lower prices. Traders have complained that custom clearances times are dramatically up on the Chinese ports, taking on average 45 days to offload, compared to 10-12 days earlier with volumes limited to a few thousands of tons. What appears to be a Chinese indirect restriction on Australian coal in particular—Australia being second biggest exporter of coal to China—the Australian dollar dropped by 1 percent following news of the apparent ban with prices under pressure in the overall market. Too bad for coal miners, but great news for coal importers.
According to a Reuters report, Australian Thermal Coal price per ton was $92.53 the past week, down from prior week’s $95.18. In the week of Feb 17, 2019 last month, the price was $89.46 at a 19-month low. Month-end data of Feb-19 shows that coal prices are down 10 percent since this month last year, and by 19 percent since Aug-18. Though some mysterious Chinese sources have told the media that
China has put a cap on Australian coking coal and thermal coal imports which in 2018 stood at 39 million tons and 49 million tons respectively—both over 20 percent of Australian global exports in the commodities. Meanwhile, there are no such barriers on Indonesian or Russian coal. Analysts believe the ban may be politically inclined (Australian government has recently put a ban on Huawei from building a 5G network) but Chinese official word is that the policy is targeting “environmental protection”, not any particular country.
According to officials, China is running safety and quality checks—which include radioactivity tests—at the ports which is causing the delays. This is apparently to safeguard the environment and coal importers in the country, though it doesn’t make sense why coal from other countries are getting a free pass. In fact, analysts believe this move is simply to safeguard the interests of domestic Chinese coal miners who are battling Australian imports which are preferred in the market due to their higher productivity. The move may even backfire since importers will be racing to the doors of other higher-grade coal producers like Indonesia.
It has been argued by Wood Mackenzie’s Research Director to the Financial Review that a prolonged ban may have adverse implications. It could raise Chinese steel makers’ prices since they will be using domestic coal whereas excess volumes of Australian coal will flood the markets that would depress coal prices. However, the restriction is limited to a few ports so far. According to Refinitiv, the financial markets arm of Reuters, the pricing is not indicative of a massive slowdown in China’s coal imports. There aren’t dramatic changes in volumes either, though the speed of vessel offloading in March may be foretelling a challenging future.
Source: Business Recorder
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Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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.
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- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
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