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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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Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
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Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
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- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
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