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