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