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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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Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
Wednesday, 02 September 20
MARKET INSIGHT - INTERMODAL
The imminent global shift towards eco-friendliness has caused divide among the shipping community because there is no outlined, clear-cut way via w ...
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- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
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