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