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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, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
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- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- The University of Queensland
- VISA Power Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
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