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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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Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
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- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
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