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Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
 Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, which partly reflects tighter environmental policies at banks, says Fitch Ratings. Mining companies in the region are likely to face less margin pressure than under our previous price assumptions, which, along with lower capex, could support deleveraging. However, there are more constraints on their ability to generate new revenue streams, while refinancing risks may also rise for smaller miners.
The current coal price of over USD100/tonne for Newcastle 6,000kcal - close to a five-year high - looks unsustainable, given rising supply in China and Indonesia. Chinese production increased by 3% to 3.4 billion tonnes in 2017, and the government has issued guidance to producers to increase output to 3.7 billion tonnes in 2018 to support power providers. Indonesian coal exports rose by 13% yoy in 1Q18 and are likely to increase further as producers respond to high margins.
However, falling coal mining investment suggests the long-term outlook for coal prices has turned less downbeat. The prolonged industry downturn from 2013 to 2016 has dampened mining firms' appetite for investment, particularly in low-margin ventures, while growing environmental concerns are affecting their funding options. Fixed-asset investment in Chinese coal mining, for example, dropped by 50% to CNY265 billion in 2017.
Banks' increasing reluctance to fund fossil-fuel projects is likely to be a constraint on any recovery in coal investment. Many global and regional banks have toughened their stance on lending for coal mining, reflecting concerns about climate change and, in some cases, pressure from environmental groups. Financing for low-grade, greenfield mines, in particular, is becoming more costly and difficult to obtain, while small, inefficient and environmentally non-compliant coal companies are finding it harder to secure loans.
Regional supply could also be held back by policies in Indonesia - the world's biggest coal exporter - that will limit the amount of coal that leaves the country, as the government looks to meet growing domestic power demand. These policies have not had much impact on coal exports in recent years, as domestic demand failed to meet the government's expectation due to completion delays in power projects, but export curbs could start to bite as the state power company Perusahaan Listrik Negara and independent power producers add coal-fired capacity over the medium term.
Meanwhile, the commissioning of new coal-fired power plants elsewhere in emerging Asia will partly make up for declining Chinese imports. In many of these countries, electricity needs are more pressing than environmental concerns, so power plants have not faced the same financing challenges as mining projects.
Fitch's latest coal price assumptions, published in May 2018, have long-term prices of USD75/tonne for Newcastle 6,000kcal/kg grade coal beyond 2020, compared with our price assumption of USD67/tonne set in October 2017. We do not expect rating actions in Asia-Pacific following these revisions, as ratings of most Fitch-rated Indonesian coal miners are capped by their small scale, while ratings of Chinese miners are capped by the credit profiles of their parents.
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Monday, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
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Showing 1716 to 1720 news of total 6871 |
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- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
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