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Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
 China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at domestic suppliers and exceptionally high local prices, says Fitch Ratings. Indonesian coal miners are benefitting as the country is the biggest exporter of thermal coal to China. This also comes amid China's political tensions with its second-largest supplier Australia.
China's coal imports surged to 39.08 million tonnes in December 2020 from 2.77 million tonnes a year earlier, as Beijing relaxed a soft cap on import restrictions to ease supply constraints domestically amid an unusually cold winter, an uptick in economic activity, permit inspections in Inner Mongolia, and a soft cap on Australian coal imports. China's 2020 coal imports rose 1.4% to 304 million tonnes, the highest since 2014. Total thermal power generation rose by 6.6% and 9.2% yoy in November and December 2020, respectively.
China's coal production dropped by 0.1% yoy in 2020. Production in Inner Mongolia, the country's largest coal-producing province in 2019, fell by 3% yoy in 2020 despite the government's policy reversal in October to boost output ahead of the winter. Inner Mongolia's output subsequently rose by 9% yoy to a record high of 97.8 million tonnes in December 2020. The government in January 2021 also urged all coal producers to operate at maximum capacity as long as they can ensure mine safety.
We expect China's coal demand and imports to weaken after the Chinese New Year as temperatures rise and coal production normalises. CRU's analysis of vessel data shows that China's thermal coal imports in the first two weeks of January were already close to 70% of the volume in December 2020. CRU said the seaborne Newcastle 5,500kcal/kg free on board (FOB) coal price rose to a two-year high of USD62 by 26 January 2021 and the Chinese import price for thermal coal, 5,500kcal/kg CFR China, was USD85/tonne, a deep discount to the domestic Qinhuangdao 5,500 kcal/kg FOB price of USD131. Fitch remains bearish on the long-term coal price outlook amid the global push towards carbon neutrality.
More stringent Covid-19 containment measures amid the resurgence of infections in northern China may raise seaborne demand by slowing the shipment of coal from central China to the Bohai Rim ports, according to CRU. Some cities have been asking truck drivers to provide negative Covid-19 test results several days before arriving. That said, we do not expect a repeat of the logistical disruption in early 2020 as local governments have become more sophisticated in implementing control measures to minimise the impact on economic activity.
There may also be a regional supply-demand imbalance, keeping coal prices elevated in the short term. The Chongqing municipal government recently ordered a permanent shutdown of local coal mines, including 11.5 million tonnes of capacity owned by Chongqing Energy Investment Group Co., Ltd. (BBB/Stable), by mid-2021. This is likely to tighten coal supply in the southwest region.
Indonesian coal miners are the major beneficiaries of strong Chinese imports. The Indonesian 4,200kcal/kg coal index rose to USD45/tonne in January 2021 from an average of USD26/tonne in the seven months to November 2020. The surge is likely to be short-lived, although Fitch expects a 2021 average price that is higher than 2020 at USD32.5/tonne.
Fitch also expects most Indonesian coal producers to ramp up 1Q21 production in response to the better demand and pricing as they had curtailed production or ceased operations in costlier mines in 2H20. However, the heavy rains and floods in some parts of Kalimantan - Indonesia's key-coal producing region - may hamper the efforts of some coal miners.
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Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
Saturday, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
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- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- The University of Queensland
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
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