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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, 24 June 21
FEBRUARY'S INCREASE IN COAL-FIRED ELECTRIC GENERATION REDUCED U.S. COAL STOCKPILES - EIA
Coal stockpiles at U.S. power plants decreased significantly from December 2020 to February 2021, including a draw of nearly 16 million tons in Feb ...
Wednesday, 23 June 21
MARKET INSIGHT - INTERMODAL
The first half of 2021 has brought a very sharp and continued recovery in the dry bulk market and while many where expecting a relatively strong ma ...
Thursday, 17 June 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR GLOBAL SEABORNE COAL TRADE; CHINA'S COAL IMPORTS - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade.
Total global loadings in the 12 months of 2020 were down -12 ...
Thursday, 17 June 21
FITCH RATINGS RAISES SHORT-TERM OIL AND GAS PRICE ASSUMPTIONS
Fitch Ratings has increased its 2021 and 2022 oil price assumptions for the Brent and West Texas Intermediate (WTI) benchmarks due to stronger year ...
Wednesday, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
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- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
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