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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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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
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