We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
 China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if this negative momentum will remain in 2023, pressuring the Dry Baltic index. While the easing of Chinese Covid strict policies which coupled with the 70% coal reliance of North China for its heating boiler amidst the upcoming colder winter can trigger a demand boost for coal, we will focus on some adverse fundamentals which point to pessimistic expectations for its 2023 seaborne coal imports.
Domestic coal output on a rise.
Chinese total coal output of 4.12 billion mt in 2021 contributed around 92% of its total consumptions with 2021 imports standing at 323 million mt. In 2022, domestic production during the first three quarters stood 3.32 billion mt, an increase of +14% compared to 2021 first 3 quarters while the 2022 October output of 370m mt is up by +13m mt compared to October 2021 output. While coal represents almost 55% of China’s energy consumption and half of coal plant expansions (+197GW) are attributed to China, a growth of around 27% of its domestic coal mining capacity could cover this increase in demand. Indeed, 559m mt of coal mines are under construction and proposed as of January 2022 in China, representing 29% of the global share followed by Australia, India, and Russia. In the short-term, a shift in local production is strengthened by policymakers' decision to support national foreign reserves while the appreciation of US$ is leading to higher coal prices for Chinese power plants thus diminishing their profit margin. In addition to that, amidst the current geopolitical tension and its effect on global trade with increases materializing across all the energy commodities globally, we believe that China will keep focusing on its national power security by keeping its inventory levels high through its local production. Indeed, current levels standing at 326.7 million mt as of the end of September which is +45% above the historical average of 225m mt and +217m mt compared to the same period last year. Covid-zero Policy will determine the growth of coal demand which however remains subdued. While Covid-19 policy relaxation has begun we do not expect that a full re-opening will take place no earlier than the end of Q12023 further trimming its coal demand.
New trade patterns in question.
China's main source of coal is Indonesia with 133 million mt (98% thermal coal) being delivered so far in 2022, followed by Russia and Mongolia with 54.01m mt (68% thermal coal) and 22.38m mt (85% metallurgical coal) respectively. While Indonesia will remain the largest supplier of coal to China yet with a fall of -16.19% so far in the first ten months of 2022 compared to the same period in 2021, the rest two nations have significantly increased their market share with Mongolia and Russia posting an increase of +60% and +12.8% respectively. While ton-mile demand is benefited from cheaper Russian coal due to European sanctions and the need to alter its trade partners, an increase in Mongolian exports could absorb a share of Russian coking coal exports especially given the recent Russian transport infrastructure limitation which leads to delays in loading and arrivals. Having said that, the new Mongolian 233km Tavan Tolgoi rail line which is estimated to cut transport costs to around US$8 per tonne compared to truck transport costs, could point towards this shift. According to the president of Mongolia, this new rail line could increase coal exports to China to 50m tonnes compared to 22.38 million so far in 2022 and its record 36.24 million tonnes in 2018. In addition to this shift, other seaborne sources of metallurgical coal namely the US, Indonesia, and Canada could see their exports further decreasing from Mongolian ones. As far as the Mongolian thermal coal exports are concerned, an increase of 61% (+1.23 million mt) has materialized during the first ten months of 2022 compared to the whole of 2021. With rail infrastructure expansions, Mongolian thermal coal exports could also increase further. The real question is, does China needs all this coal? If not, based on this year's demand, decisions will be made based on costs and transport delays and in that scenario, Mongolian exports could benefit further.
By Yiannis Parganas,
Head of Research Department
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
|
|
|
Showing 176 to 180 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
|
| |
| |
|
