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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, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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