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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, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
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