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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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Wednesday, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
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- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Anglo American - United Kingdom
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