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Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
 Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
According to BHP, the gCNewc 6000 kcal/kg FOB Newcastle index (hereafter 6000kcal) averaged around $61/t over the half, down from around $68/t in the first half of financial 2020. Prices ranged from a high of around $74/t to a low of around $50/t. That is below the 2015/16 trough in real terms. Based on the Wood Mackenzie operating cost curve, more than half of seaborne supply (comprising all grades of energy coal) was likely experiencing negative margins with 6000kcal prices in the low $50s.
The 5500kcal index averaged around $49/t over the same period, with a high of around $58/t and a low of around $38/t, which was where it closed out the half year.
BHP’s Economic and Commodity Outlook further noted that, the spread between the spot indexes for gCNewc 6000kcal and 5500kcal reverted to historical average of close to 20 per cent in the second half of financial year 2020, down from around 30 per cent in the 2019 calendar year.
“While not directly relevant to our business, there was a compression of spreads between the lower grades of energy coal (the 5000, 4200 and 3400 gross–as–received29 kcal brackets) as prices traded deep into the cost curve. Supply has been “sticky” in most export jurisdictions, with the exception of Indonesia, where output has been materially lower. Indonesian supply is prominent in these lower quality brackets” says BHP. Developed Asian markets, who are the largest buyers of >5500kcal product, have been weak under the shadow of COVID–19. Japanese imports contracted by –3 per cent YoY in the first half of the 2020 calendar year, while power demand was down -4 per cent YoY, South Korean imports contracted by –11% per cent.
Chinese demand for seaborne energy coal according to BHP’s Economic and Commodity Outlook FY20, rebounded as lockdowns were lifted, with consumption of coal at coastal power plants back in the normal seasonal range by April 2020. Hydro generation has been inconsistent, along with the weather, with dry conditions early in the year then giving way to floods. The market consensus has been that the 271–281 Mt import inflow registered in calendar years 2017 and 2018 would serve as an informal objective for total coal imports (including metallurgical and lignite) in calendar 2020, rather than assuming that the jump to around 300Mt in 2019 was the new norm. Enforcement of quotas by month and by port, including clamping down on the practice of trading firms clearing customs at one port but discharging at another, have been somewhat effective. Even so, with so much product being forced to clear to China under the Great Lockdown, some provinces and individual ports had already exhausted full year quotas by May.
India saw a sharp decline in energy coal imports in January – June 2020 (–27 per cent YoY). Power demand declined by –7 per cent YoY in the same period, while domestic coal output was quite resilient, at –3 per cent YoY.
Demand from the Atlantic and Mediterranean regions was weak in advance of COVID–19 and lockdowns have deepened the malaise. In calendar 2019, the weakness reflected commercially driven coal–to–gas switching in parts of Europe, where relatively cheap pipeline gas and LNG imports, plus a steep rise in the price of European Carbon Allowances (ECAs)30, have driven generator behaviour. In calendar 2020 to date, all of these factors have remained in place and in some instances they have been amplified by COVID–19: and demand for power itself has now fallen sharply. Renewables have been able to take a larger share of that shrinking pie BHP concluded in its latest Economic and Commodity Outlook FY20.
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Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
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- Indian Oil Corporation Limited
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
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