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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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- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
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- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
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