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