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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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Sunday, 26 January 20
SUPRAMAX: THE ASIAN BASIN SAW A 56,000DWT SHIP FIXING DELIVERY SAMARINDA TRIP TO WEST COAST INDIA AT $4,750 - BALTIC BRIEFING
Capesize
The market endured heavy losses throughout the past week, with the Capesize 5TC dropping from $8,352 to $4,772. In the lead up to Chin ...
Sunday, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
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- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Australian Coal Association
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- The University of Queensland
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
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