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