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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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Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
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- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Australian Coal Association
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
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