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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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Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
Wednesday, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
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- Riau Bara Harum - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
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