We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cycles have created ‘winners’ and ‘losers’ in the last few years of M&A activity in the coal sector.
Since commodity prices tend to move in cycles, one of the biggest challenges that industry stakeholders face is determining the ‘fair value’ of assets (which is essentially derived from future cash-flows). In order to do this, CRU has noticed that the biggest hurdle lies in identifying the current position in the commodity cycle. Moreover, it appears that parties often place too heavy an emphasis on prevailing prices. This has led to companies either significantly under- or over-valuing coal assets in recent years.
Sellers are the industry ‘winners’ of 2018…
Historically, the coal industry has not been renowned for maintaining supply discipline and high margins have usually resulted in a push to ramp up supply, through both brownfield/greenfield expansions and M&A activity. Today, however, environmental concerns mean that new thermal coal investments are largely off the table, although the push towards increased supply in the metallurgical coal sector is still alive and kicking.
The benchmark Premium HCC spot price averaged $206 /t, FOB Australia in 2018, the highest annual average price since 2011, and margins for most seaborne metallurgical coal producers have been very strong. This has encouraged some to look to acquire more volume (e.g. Glencore), while other producers have divested coal assets as part of a strategic repositioning (e.g. Rio Tinto). Other companies that previously produced mostly thermal coal have also acquired metallurgical coal assets (e.g. Adaro). Meanwhile, mid-tier producers, such as Whitehaven Coal, have also acquired new assets as part of their growth strategies.
Source: CRU
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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.
...
|
|
|
Showing 1456 to 1460 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- The University of Queensland
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- VISA Power Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
|
| |
| |
|
