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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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Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
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- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
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- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Planning Commission, India
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- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
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- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
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- Renaissance Capital - South Africa
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- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- White Energy Company Limited
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- Tamil Nadu electricity Board
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- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
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- Central Electricity Authority - India
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- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
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- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
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