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