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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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Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
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Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
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- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
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