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Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
 Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations would hurt its financial performance in the second half of the year.
“As a result of reduced electricity demand across most global markets, thermal coal demand and price has declined sharply since the beginning of April 2020,” the coal miner said in a quarterly update.
The coronavirus outbreak had affected all markets and coal types, destroying global power demand more rapidly and on a greater scale than seen during the global financial crisis of 2008, it added.
High levels of Indian coal stocks, the uncertain pace of Japan’s recovery and low coal imports from Europe were all posing negatives for the thermal coal market, the miner said.
However, offering some relief, New Hope said a pick-up in Chinese industrial activity and power consumption, along with firm demand from Vietnam, Taiwan and Korea had supported a recovery in prices in recent weeks.
Meanwhile, the company said it was currently searching for a new chief executive, after industry veteran Shane Stephan recently announced his retirement effective on August 31.
New Hope also said it had been informed by the Australian high court that special leave applications had been submitted by Wiggins Island Coal Export Terminal (WICET) and liquidators regarding debts owed by its two units, Northern Energy Corporation and Colton Coal.
Both units are currently under liquidation. If the applications and the appeal are successful, the company could be exposed to a liability of about A$155 million ($102.55 million), New Hope said, adding that it would continue to deny the claims.
A court last year found that New Hope was not required to fulfil its units’ debts, as claimed by Wiggins Island Coal Export Terminal (WICET) and the liquidators .
Source: Reuters (Reporting by Rashmi Ashok in Bengaluru; Editing by Simon Cameron-Moore)
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Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
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