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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- SMC Global Power, Philippines
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
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