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Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
 Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions due to thermal coal supply constraints in China.
Chinese regulations further tightening the mine safety requirements implemented earlier this year have reduced thermal coal production in the country despite strong demand driven by the economic recovery. Thermal power generation increased in China in January to July by 13.2% yoy, while non-power coal consumption increased by 7.7% yoy, causing rapid increases in coal prices. Coal inventories have been declining, even though import volumes increased in June and July.
The government has launched some mitigating actions, including re-opening open-pit mines capable of producing 67 million tonnes of coal per year, approving new production capacities and requesting mines increase production volumes. These measures, and seasonally weaker demand in September and October, should help moderate prices from the current high levels; however, we expect average domestic prices for 2021 to be higher than in our previous price deck.
Our increased price assumptions for the Chinese benchmark in 2022 and thereafter reflect structurally tighter supply, lower incentives to invest in new coal mines and an emerging trend of local governments and mining companies closing older coal mines in order to meet carbon-reduction targets. Furthermore, the central government has demonstrated its tolerance of high coal prices, while local governments in coal-producing regions are motivated to keep supply relatively tight.
The stronger domestic prices in China have also affected seaborne prices, despite China’s ban on coal imports from Australia. Trade flows have adjusted as a result, with China now importing more coal from Russia, Indonesia and other countries, with Australia now exporting more to India and Korea. We therefore have increased our 2021–2023 Newcastle 6,000kcal/kg assumptions. We have kept longer-term price assumptions for the Australian benchmark unchanged. We anticipate that pressures to reduce coal power generation in many key markets consuming Australian coal will eventually lessen coal demand and help normalise the seaborne prices.
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Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
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- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
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