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Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
 Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal prices and adding order uncertainties for exporters, Fitch Ratings and CRU say. Miners from Australian and Indonesia are the most exposed, but the credit impact is muted thanks to sufficient rating headroom as we have already incorporated a downward pricing trend in our rating assumptions.
The Chinese coal market’s tightness has eased due to a combination of weaker demand and improved domestic supplies. Chinese coal demand has declined as residential power consumption reduced at the end of the winter heating season in mid-March and hydro supply increased in south China due to heavy rains. Chinese domestic coal supply has gradually improved in recent quarters as the pace of capacity closures has slowed and incremental capacity has been expedited to bring down fuel costs, according to CRU. Inventories at the six main power producing groups edged up to 16.0 million tonnes in late March, 13% higher than the average for 2018 of 14.1 million tonnes.
Growing domestic supply is likely to prompt the Chinese government to tighten control over thermal coal imports. This would imply higher order volatility and risks for seaborne coal suppliers targeting the Chinese market, which are mainly miners in Australia and Indonesia. The Chinese government appears to have adopted an on-and-off importing policy since 2017 by implementing stricter checks when domestic supply is sufficient and speeding up clearing when domestic supply is tight. Australian coal cargoes, for example, have been facing increasing delays clearing customs at Chinese ports since February, according to CRU.
While seaborne coal remains price competitive compared to domestic coal, risks of long clearing time and import bans may discourage Chinese consumers from using seaborne coal, especially when domestic supply is sufficient.
Australian coal producers are likely to face the risk of order cancellation, and to some degree, be forced to compete for sales in alternative countries. This may lead to weak prices in the seaborne market, especially for the mid-content-value coal of around 5,500kcal/kg that Chinese importers typically buy from Australia.
Imports from Indonesia have been less affected by the recent Chinese controls, according to press reports, although Indonesian producers are still likely to come under pressure to find new markets due to overall declining Chinese demand for seaborne coal, as well as increasing Indonesian domestic output, and weaker-than-expected domestic demand.
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Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
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- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Parliament of New Zealand
- Marubeni Corporation - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
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