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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, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
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- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
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