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.
|
|
Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
|
|
|
Showing 121 to 125 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
|
| |
| |
|
