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Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
 Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to narrow over time.
According to Fitch Ratings, prices of high-grade coal have been boosted by tight supply and geopolitical intensions, while prices of low-grade coal are constrained by weak demand from China. Newcastle 6,000kcal/kg grade coal reached USD380/tonne (t) in late June, a 105% premium over Newcastle 5,500kcal and close to the hard coking coal price of USD385/t. Fuel costs of north Asian power plants using liquefied natural gas are similar to those burning high-grade coal, suggesting limited upside for coal prices.
China’s benchmark Qinhuangdao 5,500kcal/kg price fell to the current CNY1,200/t and has found support at that level, from over CNY1,600/t in late March. The correction reflects weak demand; thermal power generation declined by 10.9% yoy in May 2022 due to lockdowns to contain Covid-19 outbreaks and strong hydropower generation. Coal inventories at power plants have also rebounded, Fitch Ratings says.
Fitch Ratings also noted that, India’s power demand rebounded by 10% yoy in April 2022 and 20% in May 2022, driven by an economic recovery, as the Covid-19 pandemic ebbed, as well as high temperatures in many regions. This led to tight coal supply, with the nation's average coal stock falling below eight days by end-April, despite a 15% rise in domestic coal production in 4M22. The government has ordered all power plants to use imported coal for 10% of their fuel to improve the availability of coal and meet the strong power demand. We expect the compulsory coal blending, which is likely to continue until 3Q22, to drive coal import growth during the year.
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Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
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- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
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