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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 warned prices were easing, partly due to high inventories at European power utilities.
Exxaro posted a 41% increase in revenue to 46.4 billion rand ($2.53 billion). It realised an average coal price of $251 per tonne last year, up from $96 in 2021, due to a price surge after the European Union banned coal imports from Russia following its invasion of Ukraine in February 2022.
However prices, which started coming off in the final quarter of 2022 due to the European inventories amid milder winter temperatures in October and November, have continued to decline in the new year, Exxaro’s finance director Riaan Koppeschaar told Reuters.
“We should expect a bit of a discount on the API4 side because of the weakness in the Atlantic basin. If you look at the forecasts, it’s somewhere between $120 and $140 per tonne,” Koppeschaar said. API4 is the benchmark price reference for South African coal exports.
Like its peers, Exxaro has been trucking some of its coal to ports due to rail capacity problems at South Africa’s state-owned Transnet.
Transnet is struggling to haul minerals to port due to the shortage of locomotives and spares as well as cable theft and vandalism of its infrastructure, forcing exporters to resort to rail.
But coal volumes moved by trucks, an expensive alternative to rail, are declining due to weaker prices, Koppeschaar said.
“There is very little coal being shipped from the trucking route in Richards Bay, so it’s clear there’s already a material chunk (of coal) that’s not economical,” he said.
Exxaro exported 5.2 million tonnes in 2022, down from 7.6 million tonnes the previous year due to the rail capacity problems.
The miner reported a 28% jump in headline earnings per share to 60.16 rand ($3.27) in the year ended Dec. 31, compared with 46.83 rand previously, but declared a lower dividend, citing lower income from its iron ore investment as well as uncertainty over rail performance.
It declared a final dividend of 11.36 rand per share, compared with 11.75 rand last year.
Source: Reuters
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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 ...
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. ...
Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
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- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
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- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
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- Tata Chemicals Ltd - India
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- Australian Commodity Traders Exchange
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- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
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- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
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- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Billiton Holdings Pty Ltd - Australia
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- Global Coal Blending Company Limited - Australia
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- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
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- Antam Resourcindo - Indonesia
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- Dalmia Cement Bharat India
- Wilmar Investment Holdings
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- Bhatia International Limited - India
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- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
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- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
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- Price Waterhouse Coopers - Russia
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- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
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- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
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- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
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- SMG Consultants - Indonesia
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- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
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