中文
1. Australian coal returns to China market
China's NDRC discussed the resumption of Australian coal imports on January 3, 2023. Four major companies were granted direct import rights, starting April 1. On January 10, Chinese Ambassador Xiao Qian indicated that the resumption hinged on Chinese companies.
Yancoal successfully placed two coal cargoes in China in January. The first shipment of Australian coking coal, 71,682 tonnes, left Hay Point Coal Terminal on January 24, arriving at Zhanjiang port on February 8. Kpler's tracking data showed five coal cargoes from Australia to China in January and February.
On February 16, the Ministry of Commerce emphasized normal commercial behavior and mutual economic benefits in China-Australia cooperation.
2. Indonesia to set up agency for stable coal supply
The Ministry of Energy and Mineral Resources of Indonesia (ESDM) said in early January 2023 it planned to set up a coal fund agency – the Public Service Agency (BLU) to primarily handle levies collected from coal mines and develop corresponding plans regarding the difference between the coal market price and the price cap for the Domestic Market Obligation (DMO) to stabilize domestic coal supply.
Initially, miners would be able to sell coal to end-users at market prices after the establishment, instead of the domestically regulated price of $70/t. However, the Indonesian government stated that the BLU would be used to pay the price gap in order to protect the interests of power plants and end-users.
3. New mechanism introduced for Mongolian coal trading
Mongolia's Erdenes-Tavantolgoi JSC will stop direct sales to Chinese buyers from February. Instead, coal will be auctioned on the Mongolian Stock Exchange, enhancing transparency and yielding greater returns for the country. The Mongolian government approved the resolution draft to initiate mineral product exchange trading on the exchange, effective from July 1, 2023. Erdenes-Tavantolgoi JSC plans to auction 130,000-140,000 tonnes of coal through three auctions, beginning February 9, as stated by Ganbat, Mongolia's Minister of Mining and Heavy Industry.
4. Indonesia launches new formula for coal reference price
Indonesia's Ministry of Energy and Mineral Resources (ESDM) introduced a revised coal reference price (HBA) formula on March 18. The updated benchmark prices, which came amid concerns about the HBA differing from actual transaction prices, will be determined based on three tiers reflecting decreasing calorific values. The new formula will be applied for spot coal purchasing and selling for one month after the evaluation completion, aiming to establish an acceptable market reference considering state revenue, as stated by energy ministry spokesman Agung Pribadi.
5. Glencore and Tohoku ink term coal contract
Global mining giant Glencore and Japanese power producer Tohoku Electricity Power possibly entered into a long-term contract for thermal coal supplies from Australia in early April. The contract, based on 6,322 Kcal/kg NAR thermal coal priced at $200/t FOB, has taken effect on April 1, 2023.
6. Russia, China agree on increasing coal supplies, energy minister
An agreement with China on new coal supplies was under approval, said Russian Energy Minister Nikolay Shulginov during the Eurasian Economic Forum held in May. He stated that at the moment Russia has not signed the agreement with China. At the same time, Russia has an existing agreement with India on the supply of coal.
7. Australia's NSW to raise coal royalties, up to 10.8%
The government of New South Wales (NSW), Australia, announced in early September that its coal royalty rates in the state will be increased by 2.6 percentage points from July 1, 2024. The rate for open-cut mining will reach 10.8% from the current 8.2%, 9.8% for underground against the current 7.2%, and 8.8% for deep underground from 6.2%.
8. Russia to become India's major coking coal source by 2030
Over 60% of Russian metallurgical exports and 42% of its thermal coal are expected to head to India by 2030, potentially making Moscow the primary coking coal supplier to the country, according to joint research by Yakov and Partners and the Delovaya Rossiya organization.
With a production cost nearly 50% lower than that of Australia, the US, and Canada, Russia's cost advantage may lead to redirecting up to 14 million tonnes of coking coal from Japan and South Korea to India.
The introduction of a unified transportation tariff within the North-South International Transport Corridor could further boost Russia's exports to India, reaching an additional 33 million tonnes by 2030.
9. Indonesia imposes additional tariffs on Muara Berau coal shipments
Indonesia initiated additional tariffs for ship-to-ship coal transportation from the Muara Berau port in Samarinda, effective October 1, according to a notice issued by the Indonesian coal mining association.
The notice clarifies an extra charge of $0.42/t for geared vessels and $0.82/t for gearless vessels. Insiders believed that this move may impact the supply of exported coal at the port. Previously, the tariffs imposed on geared and gearless vessels were $0.8/t and $1.15/t, respectively. The rates could vary slightly depending on the size of the floating crane, a source from the association said.
10. Indonesia to start coal levy collection from miners in Jan
Starting January 2024, Indonesia plans to collect levies from coal producers to compensate miners selling coal to state-owned power plants at reduced prices, aiming to address tight coal supplies to domestic utilities , the mining minister said on November 21.
The Domestic Market Obligation (DMO) mandates coal sales to Perusahaan Listrik Negara (PLN) at capped prices. Some miners, seeking higher profits during global price peaks, neglected DMO rules, straining domestic supply. The new levy plan aims to ensure fairness, support DMO-related government goals, and maintain a level playing field among miners.
(Writing by Riley Liang Editing by Harry Huo)
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