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Agenda Overview

Day One

8:00am Registration

9:00am Introduction – What is Coking Coal?

  • Characteristics and types of coking coal, differences between coking and thermal coals
  • Types of metallurgical coals, coking and PCI coals
  • Major producers and traders
  • Major markets
  • Supply/demand balance
  • Factors affecting supply, demand and pricing

Neil Bristow, Managing Director, H&W Worldwide Consulting

10:15am Break

10.45am Coking Coal Uses

  • An overview of the steel industry and the role of coking coal
  • The concept of coal blending
  • The use of coking coal in coke making

Neil Bristow, Managing Director, H&W Worldwide Consulting

 

11:45pm Blending and Coke Making, including technology

  • The process for using coking coal in coke making
  • Coal quality and the methodology and importance behind blending of coking coals
  • Calculating the value of a blend
  • Cokemaking technology, future trends, slot versus heat recovery ovens
  • The future of cokemaking and its implications on coking coals

Neil Bristow, Managing Director, H&W Worldwide Consulting

 

12:45pm Lunch

 

2.15pm Shipping

  • Overview of the international shipping market
  • Types and sizes of vessels
  • Vessel and voyage economics
  • What are the pros and cons between FOB contracts and CIF contracts?
  • Factors affecting freight rates

 

Ralph Van Der Hoeven, Managing Director, Klaveness Shipping (Shanghai)

 

3:15pm Coking Coal Contracts - Buyer’s Strategy

  • Diversity of supply
    • Source
    • Contract tonnage and options
    • Contract term
  • Risk management
  • Supplier analysis and selection
  • Market dynamics
  • Quality requirements: Range and limitations
  • R&D and the importance of deciding on the right blend
  • How flexible are steel mills in the blends that they use?

Neil Bristow, Managing Director, H&W Worldwide Consulting

4:00pm Break

4:30pm Coking Coal Contracts – Seller’s Strategy

  • Market analysis, target markets, market mix
  • Formulation of marketing plans
  • Spot vs. long term contracts
  • Options
  • Fixed or index linked

Pat Markey, Managing Director, Sierra Vista Resources

5:15pm End of day one

Networking drinks

Take the opportunity to get to know your peers over some networking drinks. There will be an informal coal quiz to test your knowledge!

 

 

Day Two

9.00am Standard terms and conditions in coking coal contracts and points for buyers and sellers:

  • Price, price review and escalation
  • Quantity, quality and certificates final and binding
  • Title, risk and delivery
  • Incoterms
  • Spot contracts vs long term contracts
  • Interactive case study- buyers vs sellers

 

Paul Aston, Partner & Adam Richardson, Senior Associate, Holman Fenwick Willan

10.15am Metallurgical and Coking Coal Quality Control and Penalties

  • Sampling, precision and bias
  • Testing tolerances and errors
  • Reporting of results to different bases
  • Quality and weight certificates
  • The effect of age on coking coal quality
  • Umpire sampling and procedures
  • Basis of analysis: Proximate, ultimate, AFT, energy, HGI, size, distribution and met coal analysis

Neil Bristow, Managing Director, H&W Worldwide Consulting

11:15am Break

11:45am PCI and Anthracite

  • Using PCI and anthracite as an alternative to coke/coking coal
  • Defining PCI and anthracite
  • Origin and main markets
  • Price correlations with met coal
  • Pricing PCI and anthracite
  • The difference between PCI, anthracite, met coal/coking coal and thermal coal contracts

Pat Markey, Managing Director, Sierra Vista Resources

12:45pm Lunch break

2:15pm How does the steel making process work?  Background for the case study

Neil Bristow, Managing Director, H&W Worldwide Consulting

2:45pm Demonstration of IRIS
Agata, Platts MVS Representative

3:15pm Break

3:45pm Case-Study Part 1

The delegates will be divided into four groups (one steel mill, two coking coal producers and a trader). Each group will develop and discuss a strategy, including contract structures, for negotiations. Groups work on presentations for their suggested strategies to the whole class.
 

5:15pm End of day two

Day Three

9:00am Case-Study Part 2

Groups present their suggested strategies to the class and the class has up to 30 minutes to negotiate a coal contract.

9.45am Merchant Coke and Cokeries

  • The role of merchant coke and its effects on the met coal market
  • Merchant coke market – threats to coking coal
  • Traders and major players
  • Pricing and quality

Neil Bristow, Managing Director, H&W Worldwide Consulting

10.45am Break

11:15am Logistics

  • Major ports for coking coal transport
  • Coking coal basins – Where might future shipping infrastructure be built?
  • Management of coking coal in transport – What needs to be taken into account
  • Handling of coking coal at port
  • Why has it made sense for Brazil to export coke to China and import Chinese steel?

Neil Bristow, Managing Director, H&W Worldwide Consulting

12:15pm Lunch Break

1.45pm The role of PRAs in the coking coal market

  • The latest trading and pricing trends in the market

Daisy Tseng, Raw Materials Editor, Metal Bulletin Index

2:15pm Pricing Coking Coal and Met Coal – Indices

  • What constitutes a commodity market?
  • Index development in the coking coal market – past and future
  • Methodology of coking coal indices
  • How important is liquidity and transparency?
  • What kinds of coking coal are covered and which are not?
  • Challenges of indexation of coking coal
  • Role of traders in coking coal market
  • Difference between coking coal and thermal coal indices

 Tim Hard, Managing Director and Jarek Mlodziejewski, Ferrous Derivatives Engagement, The Steel Index

3:15pm Financial Trading and Liquidity

  • Main coking coal derivatives products: historical trading volumes, liquidity, volatility and methodology
  • The permanent evolution of the market structure and new entrants – principals, brokers, exchanges
  • Index-linking physical trades
  • Basic coal price risk management
  • How does a financial swap work?
  • New products in development
  • Clearing and coal futures – The next step in coal commoditisation?
  • The future of standardized coking coal trading

Tim Hard, Director and Jarek Mlodziejewski, Ferrous Derivatives Engagement, The Steel Index

4:45pm Summary and Questions & Answers

5:15pm End of Course

 

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