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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, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
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