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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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Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
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- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
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