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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, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT 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 increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
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- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
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