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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, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
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Showing 1221 to 1225 news of total 6871 |
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- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- VISA Power Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
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