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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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Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
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- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
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