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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, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
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- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
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