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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, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- The University of Queensland
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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