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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, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Planning Commission, India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
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