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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Parliament of New Zealand
- The Treasury - Australian Government
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
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