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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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Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
Monday, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
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- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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