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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, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Eastern Coal Council - USA
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
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