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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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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Planning Commission, India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
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