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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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Wednesday, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
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Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Minerals Council of Australia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
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