Britmindo Group

lower CV Indonesian prices stop their recent decline just ahead of major industry event. #m42, #m50, #mcc, #mccloskey, #opis, #hedging, #coalpricing, #riskmanagement, #sgx

Selamat Hari Ulang Tahun Kemerdekaan Republik Indonesia yang ke-79 tahun 2024.

🇮🇩🇮🇩 *Happy 79th Independence Day of the Republic of Indonesia.* 🇮🇩🇮🇩 Merdeka....Merdeka....Merdeka

Coal Australia about ‘restoring pride’ in an industry contributing billions to the economy Coal Australia Chairman Nick Jorss joined Sky News host Paul Murray to discuss restoring pride in Australia’s coal industry which puts “$100 billion into the economy”. “Coal Australia is a grassroots movement,” Mr Jorss said. “It’s really representing our workers, our communities. “Coal is … putting $100 billion into the economy and the community every year. “Something we should rightly be proud of. “What we’re aiming to do is to just restore that pride and get that message out there.” https://lnkd.in/gCngkk98

A key Chinese coal industry group said on Wednesday it expects coal imports this year to reach at least 500 million metric tons, exceeding previous record highs and forecasts by market participants. Coal imports in 2024 will hit that level if shipments continue to grow at the rapid pace seen so far this year, Coal Transportation and Distribution Association (CCTD) analyst Su Huipeng said. https://lnkd.in/guGuQ6ZP

Glencore’s business has long been centred around coal, and the prospect of abandoning it seemed improbable for a company built on the commodity. Ivan Glasenberg, Glencore’s CEO for two decades, was a former coal trader who frequently highlighted the unquenchable demand from Asia, even as the West sought to distance itself from coal. “A decision against a coal demerger is a good decision,” Sebastian Rötters, energy and coal campaigns coordinator at German NGO Urgewald said in an emailed statement. “Glencore should keep its coal mines and wind them down in line with the [International Energy Agency – IEA] Net Zero scenario, providing just transition for coal workers and affected communities. This includes of course no more coal mine expansions and no new mines,” Rötters said. https://lnkd.in/guBqsAHP

Global consumption of coal is set to remain largely stable this year and the next as surging electricity demand in key economies will likely offset the rapid expansion of renewables such as solar and wind, the International Energy Agency (IEA) said in a recent market report. In 2023, the world’s use of coal rose by 2.6% to set a new all-time high of 8.70 billion tonnes, driven by strong growth in China and India, the two largest consumers globally, the IEA’s July 2024 Coal Mid-Year Update finds. https://lnkd.in/gXtZY_TB

Vitol Group has agreed to buy the last remaining piece of fallen Asian commodity trader Noble, as the energy trading giant recycles its blockbuster profits to go on an acquisition spree. Vitol will pay $208.9 million on a cash-free, debt-free basis, Noble Resources said in a statement on Friday. The deal is expected to close this year, Vitol said earlier. The move will expand Vitol’s thermal coal business and also give it a major position in the niche market supplying coke to steelmakers. Noble describes itself as having a “dominant share of the global seaborne metallurgical coke trade,” while Vitol last year hired a trader for iron ore — the key raw material needed to make steel — as part of a plan to break into the metals business.ttps://https://lnkd.in/g7H_mBXS

https://lnkd.in/gxP-YQuA

Key Indonesian prices soften for the first time in six weeks as prompt Chinese buying stalls. #M42, #M50, #MCC, #McCloskey, #hedging, #riskmanagement, #Coalpricing, #Opis, #SGX