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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, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
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- White Energy Company Limited
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
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