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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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Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
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- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
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