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