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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, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
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- Latin American Coal - Colombia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- VISA Power Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
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