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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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Tuesday, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when ...
Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
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- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Attock Cement Pakistan Limited
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- Trasteel International SA, Italy
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- Edison Trading Spa - Italy
- Independent Power Producers Association of India
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- Economic Council, Georgia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
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- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- The University of Queensland
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- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
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- Bulk Trading Sa - Switzerland
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- Directorate Of Revenue Intelligence - India
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- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
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- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
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- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
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- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
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- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
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- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
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- Petron Corporation, Philippines
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- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
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- Price Waterhouse Coopers - Russia
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- Billiton Holdings Pty Ltd - Australia
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- GMR Energy Limited - India
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- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
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- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
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- The State Trading Corporation of India Ltd
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