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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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Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
Wednesday, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
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- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Planning Commission, India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
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