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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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- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
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