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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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Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- White Energy Company Limited
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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