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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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Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
Monday, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engin ...
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- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Planning Commission, India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
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