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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, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
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- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
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