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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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Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
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