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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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Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
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- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Australian Coal Association
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
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