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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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Saturday, 05 September 20
INDIA WON'T KICK ITS COAL HABIT SO EASILY - HINDU BUSINESS LINE
India has traditionally considered itself lucky to have been endowed with abundant coal reserves, which it has sought to use to meet its energy nee ...
Saturday, 05 September 20
FINANCING COMPLETE FOR 900MW FIFTH PHASE OF MASSIVE DUBAI SOLAR PARK: ARABIAN BUSINESS
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashi ...
Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a d ...
Saturday, 05 September 20
PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
Wind and solar, the country’s cheapest source of new generation, also overlooked
Pakistan risks locking itself into building m ...
Friday, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
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- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
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