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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, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
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