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