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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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Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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Showing 1411 to 1415 news of total 6871 |
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- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Planning Commission, India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Deloitte Consulting - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
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