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Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
 China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world’s biggest coal buyer will likely purchase less from overseas in 2020 after a boost this year, according to analysts. With domestic production rising to a record and overall demand nearing a plateau, miners from top exporters such as Indonesia and Australia will find themselves squeezed.
China’s coal imports have raced ahead in 2019, surprising many who had predicted that the government would strictly clamp down on shipments in the later months just as it did in 2018. With economic growth at its weakest in decades amid a trade war with the U.S., import curbs were eased on the nation’s most-consumed fuel to help mitigate the pain of a slowdown.
Beijing regularly limits coal imports to buttress domestic miners amid a broader campaign to reduce the nation’s reliance on the fuel. Underpinning forecasts for lower imports in 2020 is the outlook for rising domestic supply as China promotes bigger and more efficient mining operations.
“New supply will create a coal glut,” said Michelle Leung, an analyst with Bloomberg Intelligence. That’s likely to cut China’s net imports by 8% in 2020 and hurt profitability of miners in Australia and Indonesia, she added.
China bought 299 million tons of coal for power and steel in the first 11 months, 10% higher than year-ago levels and a record for the period. It’s on course to exceed a 200 million- to 300 million-ton range touted by an industry official as necessary to support domestic miners and maintain balanced trade with exporting nations.
With more local supply to come in 2020, Chinese import controls will be a lasting feature and lead to a 25 million-ton drop in thermal coal purchases next year, Morgan Stanley estimates. The cutback will offset demand growth elsewhere in Asia, and seaborne prices may extend a slump to average $66 a ton from about $79 in 2019, the bank said.
For a country that burns and produces half the world’s coal, the strength of China’s import curbs may vary depending on the government’s competing priorities of protecting domestic miners and power plants. Utilities will face added pressure from January when market reforms are expected to result in lower electricity prices, which may hit their bottom line.
“The government wants to boost the economy any way it can, and a good way to do that is to let generators get the cheapest coal,” said James Stevenson, global director for coal research at IHS Markit Ltd. “At the same time, it doesn’t want imported coal risking domestic mining jobs.”
Market Revamp
Zeng Hao, an analyst at Fenwei Energy Information Services Co., is among the few expecting China to further relax its grip on coal imports in 2020 as policy makers would be disinclined to intervene in “market-based activity” amid the slowing economy, he said.
Economists surveyed by Bloomberg this month expect China’s top leadership to set the target for economic growth at “about 6%” for 2020, which implies a continuation of the growth slowdown. The goal for this year is 6% to 6.5%.
Given the oversupply in China’s coal market, domestic prices are likely to remain at low levels next year, said Zhai Yu, a senior consultant at Wood Mackenzie Ltd. based in Beijing. That will reduce the attractiveness of overseas cargoes.
Spot coal at the main Qinhuangdao port is at a three-year low of 543 yuan a ton. A slide toward 500 yuan could motivate the government to step up restrictions on imports, he said.
Source: Bloomberg
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Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
...
Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
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- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
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- Minerals Council of Australia
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- Oldendorff Carriers - Singapore
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- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
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- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
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- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Australian Coal Association
- Thai Mozambique Logistica
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- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
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- Energy Link Ltd, New Zealand
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- Planning Commission, India
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- Gujarat Sidhee Cement - India
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- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
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- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
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- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
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- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
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- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
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- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
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- Eastern Coal Council - USA
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- Georgia Ports Authority, United States
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- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
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- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
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- ICICI Bank Limited - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
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- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
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- GMR Energy Limited - India
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