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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
 - Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
Moody's Investors Service maintains negative 2020 outlooks for the US coal and US steel industries and a stable outlook for the global base metals sector, amid slowing economic growth and trade frictions, the rating agency says in its annual report.
The stable outlook for global base metals is driven by supply/demand fundamentals despite weaker GDP rates and lower Purchasing Managers Indexes (PMIs). However, a challenging macro operating environment warrants some caution for the sector.
"Geopolitical and economic concerns as well as trade tensions will once again overshadow the global base metals markets in 2020, continuing the pressures experienced as 2019 as deceleration in global economies took hold," says Carol Cowan, Moody's Senior Vice President. "ESG considerations will also continue to increase in visibility, demanding more transparency and improvement from the industry."
Moody's negative outlook for the US steel industry reflects its expectation that weaker fundamentals will hold in 2020, prices will not rebound significantly and planned new capacity will weigh on market sentiment.
"It's a tale of 2 steels – EAF producers will continue to benefit from lower scrap costs, helping mitigate lower realized steel prices, while blast furnace producers will continue to face higher iron ore costs and likely-increasing costs related to environmental compliance," says Cowan.
Meanwhile, Moody's expects US coal producers' cumulative EBITDA to decline by more than 3% over the next 12 months, due to a substantive decrease in export prices in 2019 among other factors.
"The outlook for thermal coal is increasingly stressed, with ESG factors weighing heavily on demand from utilities," says Benjamin Nelson, Moody's VP-Senior Credit Officer. "Our long-term outlook for North American thermal coal calls for a substantial volume reduction over the next decade, driven by utilities switching to natural gas, where we expect prices will remain low, and renewable energy, which still benefit from government subsidies."
Moody's outlooks for 2020 consider fundamental credit conditions that will affect sectors for the next 12-18 months.
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Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
Wednesday, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
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- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
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