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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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Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
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