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Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Fitch RatingsPrices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease lockdowns and suppliers cut production in 2H20, said Fitch Ratings in its latest report.

The spread between Chinese and seaborne coal prices remained high at over USD 40/tonne for the 5,500 kcal/kg  grade coal as of November, versus the average of USD 30/tonne in 2019, as Chinese buyers run out of import quota towards the year's end. 
 
Fitch further noted said, Australian thermal coal exports declined 6% qoq and 14% yoy in 3Q20 as shipments to China dropped 50% qoq and 52% yoy. The declines were partly offset by growth in shipments to India, up 250% qoq and 96% yoy, suggesting some of the cargoes heading to China were redirected.

Japan and South Korea have set the goal to achieve carbon neutrality by 2050, followed by China’s aim for 2060. Japan, in particular, clarified it is not considering building new nuclear power plants to achieve the goal, pointing to continued investments in renewable energy and weaker coal imports in the long run.


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Recent News

Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...


Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...


Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...


Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN)  has set an ambitious target of securing 23 percent of its primary energy from renewable so ...


Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...


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