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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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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
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 be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
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- Marubeni Corporation - India
- Aditya Birla Group - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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