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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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- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Ministry of Mines - Canada
- VISA Power Limited - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- GMR Energy Limited - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- The University of Queensland
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
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