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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, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
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