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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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Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
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- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
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