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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, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
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- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
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