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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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Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
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- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- The University of Queensland
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
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