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Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
 Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal companies have become one of the biggest beneficiaries of this change, with eight companies reporting high realized coal prices, net profits and operating cash flows for 2021 and 1Q22.
These coal companies are not expanding coal capacity, with one or two exceptions, capital expenditure (capex) is mainly for maintenance and there are moves towards non-coal projects. The major exception is the dimethyl ether (DME) project announced by state-owned coal miner PTBA (Tambang Batubara Bukit Asam), but the projects face uncertain financial returns and funding as IEEFA reported in 2020.
In this report, IEEFA highlights that coal prices will likely stay elevated given conflict-induced changes to trade flows. Due to disruptions in shipping schedules, Korea and Japan are likely to buy less Russian coal and substitute with coal from Indonesia and Australia, hence coal prices are likely to stay high.
In the longer term, the new trade flows will likely require time to adjust even following conflict resolution. Therefore, coal prices will be supported during this adjustment process.
Moreover, even if China ends its unofficial ban on imports of Australian coal, it is unlikely to help ease supply pressure. This is because there are already existing buyers for Australian coal since the ban was implemented. Its higher prices could make it likely to be priced out of the Chinese market.
IEEFA’s deep dive into the Indonesian coal sector finds that the eight companies are not reinvesting into new coal capacity. However, two have plans to acquire a new mine (ABM Investama) or build up downstream capacity (PTBA), while taking the opportunity to repay debt.
While this is not surprising, considering the 185 global financial institutions which have clearly stated that they will no longer support coal or coal power plant financing, a lack of new coal supply may mean coal prices continue to stay elevated, putting the onus of energy transition on potential buyers.
In the event that there is conflict resolution, coupled with the EU’s commitment to decarbonize, coal prices are likely to normalize from current levels longer term. Coal companies should not miss the opportunity now to diversify away from coal before the cost to transition gets higher.
- Ghee Peh -
Ghee Peh
Ghee Peh is an energy finance analyst with a focus on the Asian coal industry and South East Asia. Ghee has worked on major mining IPOs in Hong Kong and Indonesia including coal, copper and gold companies and has a deep interest in commodity markets.
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Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
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- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
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