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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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Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you ...
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- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
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