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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, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
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- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Planning Commission, India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
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