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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, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
Monday, 02 December 19
GREENER LNG IS VITAL TO ASIA'S SUSTAINABLE DEVELOPMENT - WOOD MACKENZIE
Asia struggles with the world’s worst air pollution. Delhi hit the headlines in November 2019 as levels spiked to such hazardous levels that ...
Monday, 02 December 19
5TH EAST & SOUTHERN AFRICA GAS & LNG CONFERENCE 2020
5th East & Southern Africa Gas & LNG Conference 2020
April 2-3
Maputo, Mozambique
5th East & Southern Afri ...
Monday, 02 December 19
5TH DEEPWATER EAST & SOUTHERN AFRICA CONGRESS 2020
5th Deepwater East & Southern Africa Congress 2020
April 2-3
Maputo, Mozambique
5th Deepwater East & Southern ...
Sunday, 01 December 19
6TH CENTRAL & EASTERN EUROPE NUCLEAR INDUSTRY CONGRESS 2020
6th Central & Eastern Europe Nuclear Industry Congress 2020
January 20-21 | Prague, Czech Republic
Overview
6th ...
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- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- The University of Queensland
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
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