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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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Tuesday, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
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- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
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