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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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Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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Showing 1436 to 1440 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
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