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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, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- White Energy Company Limited
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Planning Commission, India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
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