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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, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
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- GMR Energy Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Australian Coal Association
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
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