We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
 Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand in Europe, rest of the world is shockingly low and stocks have hardly drawn despite the coldest winter in decades, according to an analysis by Bank of America- Merrill Lynch (BofAML).
Japan, by far the biggest importer of thermal coal, cut back on its appetite for coal by almost 20 million mt last year, to 117million mt. Europe took in 22 million metric tons less last year, driven particularly by Spain, Italy, the UK and France as low natural gas prices supported switching out of coal in the power sector
Last year China imported 70.4 mn mt of thermal coal, relative to outflows of 7.8 mn in 2008. China's imports will witness slowdown due to ramping up of internal proudction, according to BofAML.
|
|
“Last year China imported 70.4 mln mt of thermal coal, relative to outflows of 7.8 mln in 2008. China's imports will witness slowdown due to ramping up of internal production” - BofAML
|
|
|
Coal prices are protected to the downside by the high marginal cost of production, particularly in Russia. However, the oversupply in Europe will likely keep a lid on API2 prices near-term.
API2 front month coal increased from a low of $75/mt in mid December to $97/mt in early January, sharply outpacing other energy markets. Heavy snowstorms led to local power shortages, particularly in the South of the country.
Perhaps more importantly, a much stronger-than-expected cyclical rebound in China drove power generation growth to new highs, up 33% YoY over the past three months, helping to fuel coal demand. Other Asian countries also experienced a turn-around in electricity generation. In turn, due to the heavy snowfall and rail constraints, China resorted to seaborne coal as opposed to domestically produced material. Elsewhere, a glaringly cold winter in Europe provided some support to sentiment. Producer infrastructure constraints, particularly in Australia, South Africa and Indonesia, temporarily tightened the international coal market.
Ultimately, the 3-week rally in coal did not last and prices reversed sharply in mid January as the snowfalls in China receded and the USD strengthened. In recent weeks, front-month API2 coal traded down to $72.75/mt and has been in the $72/mt to $79/mt range. Chinese imports in January, though still at a very high level, cooled off month-on-month basis. Moreover, big European coal users, like Germany, France and the UK, recorded steep demand losses in January, at a time that they experienced the sharpest winter in decade, BofAML analysis said.
In the UK for instance, coal demand in December equalled 4.6 million mt, down from 6.3 million mt in the prior year. Preliminary data indicates that the trend continued over the past weeks.
Traditional European coal suppliers are doing what they can to manage supply to Europe. Russia has reportedly closed some mines to keep exports to Europe low. South Africa is actively diversifying away from Europe towards demand outlets in Asia Pacific. During 2009, 31% of South African exports went to India, from virtually nothing in previous years. That trend was particularly pronounced over the past months. Although in small volumes, South Africa has also been pushing material into China. More absurdly, Colombia-- who typically exports 50-60% of their coal to Europe with the balance going to the Americas--
has now detected interest in Asia.
Colombia exported small volumes to China in December to the tune of 1.5-1.7 million mt, for the first time ever. Of course, sharply lower freight rates are helping these trade flows. As we see continued supply of new Capesize vessels in 2010, freight will likely remain cheap by historical standards in the near-term. Once freight recovers, possibly at the end of this year with the cyclical demand recovery soaking up the supply in ships, these trade-flows are unlikely to be sustainable.
Europe's coal inventories remain at excessive levels at key import ports in Rotterdam and Amsterdam as supply exceeds demand. BofAML sses strong relationship between spreads in AP12 and coal inventories. Hence it is no surprise that the contango in API2 has steepened even more, with front month to front calendar year spreads at the widest since July last year , reflecting the oversupply in the European market and bulging inventories.
Coal markets in the Pacific are a lot tighter, with inventories relatively low in key coal consumers like China, India and South Korea. Meanwhile, the Newcastle coal market is trading in backwardation. Several coal mines in Australia had to declare force majeure in response to severe rainfalls on the east coast which flooded mines, while major rail lines had to close, clogging up the coal chain infrastructure. 47 vessels are currently again lining up outside Newcastle , underscoring that infrastructure problems will not go away easily, BofAML analysis said.
Overall, the outlook for emerging market coal demand remains very positive though. China is expected buy more seaborne coal as as the Chinese Renminbi is likely to be revalued by mid year. In BofAMl analysis, a CNY revaluation is undoubtedly positive for global thermal coal prices. Other EMs likeMexico and Turkey are sharply ramping up coal imports. India continues to suffer from a negative coal balance and will have to rely on the seaborne market for supplies. On a medium-term horizon, we believe that global seaborne coal prices have immense upside from the current level given the growth in coal-fired generation capacity.
Source:Commodity Online - By Madhurima R S
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
|
|
|
Showing 5936 to 5940 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Eastern Coal Council - USA
- Australian Coal Association
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- The University of Queensland
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
|
| |
| |
|
