Monthly Summary Of Imported Coal & Petcoke

Indicative Imported Coal Price

COAL (kcal/kg) Monthly Price - FOB Monthly Price- FOB Monthly Change (USD) South Africa 6000 NAR USD 324.00 INR 24997 79.22 South Africa 5500 NAR USD 262.05 INR 20217 58.51

Australia 5500 NAR USD 207.42 INR 16002 47.36

Indonesia 5000 GAR USD 144.83 INR 11173 29.50

Indonesia 4200 GAR USD 90.86 INR 7010 17.91

Indicative Pet Coke Price

PET COKE Sulphur Price Monthly Change ($) Exchange Rate Change (Monthly) India-RIL(Ex-Ref.) -5% INR 22257 Saudi Arabia (CIF) + 8.5% INR 19133 ($248.00) INR 441.00 2.50 INR 77.15 0.83

USA (CIF) - 6.5% INR 19789 ($256.50) 4.00

Indicative Coking Coal Price

Current Month

Monthly Change (USD) Premium Low Vol HCC 64 MID Vol Semi SoftLow Vol PCI Mid Tier PCI MET COKE 62% CSR

FOB CFR China FOB Aus CFR China FOB Aus FOB Aus FOB Aus CFR India FOB N China 501.47 458.88 464.97 417.88 427.63 483.75 481.75 635.38 578.88

19.97 -51.75 19.97 -58.75 50.31 49.88 49.88 -34.25 -83.25

South African Coal News:

* A group of the world’s richest nations offered South Africa debt guarantees as part of a proposed $8.5 billion deal designed to cut the nation’s reliance on coal for power generation. The guarantees would enable South Africa or companies such as state power utility Eskom Holdings SOC Ltd. to borrow money needed to close down coal-fired power plants and enable the generation of renewable energy. Concessional loans and grant funding would be included in the support, which was announced at the COP26 climate summit last year, and may be extended over the next three to five years. * Mining companies in South Africa have resorted to trucking coal to ports to meet a surge in European demand since the war in Ukraine started, bypassing the deteriorating rail infrastructure they blame for billions of dollars in lost revenue. Transporting coal via trucks costs about four times more than the Rail transport. As a whole, South African coal miners are putting about 400 trucks on the road a day, trucking some 6 million tonnes of coal on an annualised basis, according to the industry source. * South Africa’s Botswana has been inundated with inquiries to supply coal to Europe and estimates that demand from Western countries could top a million tonnes a year as the Ukraine war forces Europe to pivot more to Africa for energy resources. Botswana has seen demand from both governments and the private sector in Europe and estimates that demand from

Europe could reach more than 50,000 tonnes a month. Coal prices have more than doubled since the beginning of the year and mining companies in South Africa are scrambling to pump up production and benefit from high prices.

Australian Coal News:

* Rapidly phasing out coal power plants and mines will be vital for Australia's new government to meet its more ambitious carbon emissions targets, environmentalists said, while urging renewable energy investments for mining communities. A phase-out of coal power is "crucial" to meet the Labor government's new climate goals, analysts say as Australia's dependence on coal-fired power makes it one of the world's largest carbon emitters per capita. * As the Ukraine war upends global commodity markets and triggers a scramble for resources, the crisis is redrawing the Asia-Pacific region’s energy map. With similar trade profiles, Russia and Australia compete in many key markets, from gas and coal. The country’s coal miners have been scrambling to keep up with record demand, which has sent prices soaring. Newcastle coal futures, the commodity’s benchmark for Asia, rocketed to more than $400 per tonne in early March and currently remain about $350. Some producers reported in April that Australian coal sold out due to the rush. * The resilience of seaborne premium low volume coking coal prices from Australia has squeezed margins for metallurgical coke makers in countries like India in the face of lower global steel prices and stoked working capital concerns among steel mills. Limited coking coal supply from Australia has contributed to limited participation from steel mills in spot trade. On top of that China's refusal to buy Australian coals has failed to free spot tonnages amid supply disruptions. * Indonesia's Ministry of Energy and Mineral Resources has set its May thermal coal reference price -- also called Harga Batubara Acuan, or HBA -- at $275.64/mt, down $12.76/ mt from April, due to an increase in world coal supply. Indonesia's HBA continued to climb over January-April, starting at $158.5/mt in January, $188.38/mt in February and $203.69/mt in March. Only this month the graph has dropped slightly. *Indonesian thermal coal continued to reel from China's absence in another thinly-traded session, as its price advantage reversed against Chinese domestic cargoes. Indonesian 4,700 Kcal/kg NAR coal has lost its price edge over same-CV Chinese coal for nine weeks in a row. Only 3,800 Kcal/kg NAR Panamax cargo for June delivery was sold by a large coal mine based in Kalimantan. Demand from India and South Korea was stable with trading levels close to $90/t FOB for Supramax 3,800 Kcal/kg NAR, while Europe's buying enthusiasm abated as their stockpiles have improved recently. * A surge in coal prices is driving a wave of bank loans to miners in Indonesia, the world’s fifth-largest coal producer and top exporter. Data from Indonesia’s financial regulator, the OJK, show that lenders channelled 26.83% more money to the country’s mining industry in January 2022 compared to the same period in 2021. The increase is much higher than the year-on-year growth in overall loans of 5.79%.

US Coal News:

* Tight coal supplies and increased demand have driven up prices, allowing U.S. coal producers to reap profits after many faced bankruptcy and large debt loads in recent years. And with U.S. coal consumption on a path of long-term decline, coal companies are not investing in new production, but are instead returning much

of their windfall gains to shareholders. With coal company share prices increasing as much as 986.2% in one year, some investors may now also collect the rewards of betting on the sector. The share price of Alpha Metallurgical Resources Inc. jumped 986.2% year over year while the nation’s largest coal producer, Peabody Energy Corp., recorded a 485.0% increase. * US coal production is forecast to increase this year, buoyed by a strong export market and inventory replenishment in the power generation sector, says the US Energy Information Administration (EIA). In its ‘Short-Term Energy Outlook’, the EIA states that US coal production will increase by 20- million short tons (3%) in 2022 to 598-million short tons and by sevenmillion short tons (1%) in 2023. *U.S. coal employment swelled alongside higher demand since the summer of 2021, but total production volumes were flat for the past three quarters as producers struggled to make coal shipments. Production has been climbing along with an increase in demand amid higher natural gas prices, leading to an uptick in hiring. The average number of employees in the U.S. coal sector has grown over the past three quarters, rising 3.5% between the second and third quarter of 2021 alone. Pet Coke News:

* Petroleum coke market size is expected to grow from $21.56 billion in 2021 to $24.44 billion in 2022 at a compound annual growth rate (CAGR) of 13.3% and to $34.36 billion in 2026 at a CAGR of 8.9%. The rise in the production of steel is expected to propel the petroleum coke market growth going forward. The petroleum coke market consists of sales of petroleum coke by entities (organizations, sole traders, and partnerships) that is a carbonaceous material produced by coke-units in oil refineries or other cracking processes. * Indian petcoke producers have increased their domestic prices for May amid tight supply and elevated global thermal coal prices due to countries struggling to replace Russian coal. India’s largest petcoke producer Reliance Industries Ltd. increased its offer by Rupee 441/ mt ($5.77/mt) from April. Chennai Petroleum Corporation Ltd., or CPCL, a subsidiary of staterun Indian Oil Corp., has revised its price for domestic petcoke to Rupee 22,070/mt for May ’22. Shipping Update:

* The Baltic Exchange’s main sea freight index rose this week due to higher rates for all vessels. The overall index, which factors in rates for capesize, panamax, supramax and handy size shipping vessels, was up 100 points, or 3.1%, at 3,289 points, the highest since December ’21. The capesize index gained 221 points, or 5.31%, to 4,385 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $1,837 at $36,368. Strong demand for vessels in the far-East, with increased activity in both West Australia and Indonesia, is impacting nearby laycans out of South Africa which see limited amounts of tonnage available, analysts say. * Global supply chain problems look set to worsen as China's COVID-19 lockdowns, Russia's invasion of Ukraine and other strains cause even longer delays at ports and drive up costs in the dry bulk market including coal and other essentials. The study by analysts at Royal Bank of Canada (RBC) found that one-fifth of the global container ship fleet was currently stuck in congestion at various major ports. In China, ships awaiting berth at the Port of Shanghai now tally 344, a 34% increase over the past month. In Europe too, ships from China are showing up an average of four days late causing a shortage of empty containers to take European-made goods to the U.S. east coast. * Australia’s Graincorp, the country’s top grains handler, said disruptions to exports from the Black Sea because of the Ukraine conflict could potentially last several years. “Whilst it’s very difficult to predict exactly what’s going to happen in the Black Sea, it’s certainly our view that it’s going to be disrupted for a significant period of time,” Graincorp Managing Director Robert Spurway said. “It could run to several years, given the very disruptive hostilities on the ground in Ukraine, the infrastructure in that country that’s been damaged.”