We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
 Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newcastle coal future has fallen by almost 50% since the start of 2023 to $196.5/t.
There are a number of reasons for these declines in the two benchmarks, but the main one is competition from natural gas prices, which have reached levels below €50/MW, currently standing at €47.70/MW and down more than 59% since the start of the year. Indicative of this situation, the clean dark spread in Germany, which measures the difference between the wholesale price of electricity and the cost of the coal used to generate that electricity, has reached a multi-year low of -€18.77/MWh, implying that it is not profitable to use coal. Another reason for the fall in prices is the weather. The winter has been milder than expected in both Europe and Japan, meaning that less coal has been used for heating. Although colder weeks are expected, the end of the winter is near. The milder winter is also reflected in the ARA region inventories, which are now almost double the level of a year ago.
Looking at seaborne trade, the EU and UK imported 84.3 Mt of thermal coal in Jan-Nov 2023, 4.6 Mt more (+5.7%) than in the same period last year, while coking coal imports were 29.7 Mt, 8.1% lower than last year. The trade is solid, but the routes have changed. Russia is no longer the top supplier of coking coal, with its share falling from 68% in 2021 to just 4% in 2022. Other countries such as Colombia, the United States, South Africa, Australia and Indonesia have stepped up, increasing the distance travelled to reach Europe.
Although Europe has dumped Russia as a major supplier of coal, Russia has managed to sell it elsewhere. China, for example, bought both thermal and met coal from Russia, benefiting from discounts. In general, China significantly reduced its coal imports by -41 Mt (-15% y-o-y), due to increased Chinese production and some government price controls to limit import demand. Besides China, other countries such as India, Turkey and South Korea were the main destinations for Russian coal.
Looking ahead, the decline in the coal price since the beginning of the year has been significant and it is worth looking at some of the factors that can move the price of coal. First and foremost, the war in Ukraine has the potential to keep supply and demand tight in the near term. If the war continues to rage and coal importers stay away from Russian coal, tone-mile demand is likely to rise, which can further boost the dry bulk market. The same applies if gas prices rise again and coal becomes the fuel of choice for power generation. In fact, the front-year clean dark spread is expected to reach +18.77/MWh, meaning that coal will become more profitable to burn for power generation, thus increasing demand for it.
By Fotis Kanatas
Research Analyst
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.
|
|
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
|
|
|
Showing 116 to 120 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
|
| |
| |
|
