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Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking output could help offset the flattening demand from China feared in the 2020s.
China’s immense appetite for the steelmaking commodities iron ore and coal – Australia’s two top exports – helped deliver a windfall to the leading miners in 2019 as well as a timely boost to the Morrison government’s federal budget. But the latest industry and government modelling projects Chinese demand to ease in the face of lower margins, a weakening in global growth and the continuing US-China trade war.
Australian exporters of metallurgical coal – the coal used to make steel – are increasingly looking to the rapid growth of India’s steel sector to help to fill the looming demand gap and cushion the blow.
“A lot of other markets are big but mature,” BHP vice-president of market analysis Huw McKay said. “India is big but it’s barely got started.”
Coal exports were expected to feature on the agenda of Prime Minister Scott Morrison’s planned visit to India this month, but the trip was cancelled last week due to the national bushfire disaster. In its December resources report, the federal government said India was expected to become the “key source” of import growth for metallurgical coal, “offsetting a gradual easing in demand from China”.
According to projections from BHP, Indian steelmaking is on course to grow by 7 per cent a year over the 2020s.
With yearly output of more than 100 million tonnes of steel, India recently surpassed Japan to become the world’s second-biggest steelmaking country.
Dr McKay said BHP’s modelling had found China – which accounts for roughly half of global steel demand – was now in a “plateau” phase, while demand in other top steel markets Japan and South Korea was also subdued.
“The mature markets are sort of settling a little bit and India is coming up, filling a gap that would have emerged,” he told The Age and Sydney Morning Herald.
Although India has substantial reserves of iron ore, Indian steelmakers import the bulk of their metallurgical coal due to scarce domestic production. India’s government is forecasting its metallurgical coal demand to more than double in 10 years as the country plans to increase its crude steel production to 300 million tonnes by 2030.
“We don’t think they will get all the way there but they will get most of the way there,” Dr McKay said. “It’s a big, big lift.”
While forecasts of India’s long-term economic trajectory are promising, growth in the past year has been much slower than many had predicted. Observers had anticipated the nation’s economic growth would be strengthened by the re-election of Prime Minister Narendra Modi who demonstrated in his first term a focus on modernising the economy including through a clampdown on corruption, a simplification of the country’s arcane tax system, the introduction of a goods and services tax and making India a serious destination for foreign investment.
“It hasn’t really gone that way,” Dr McKay said. “They won the general election, but the economy is not purring along, it is stuttering.
India’s economy slowed for the sixth quarter in a row in the July-September quarter, with GDP growth dipping to a six-year low of 4.5 per cent.
Source: Sydney Morning Herald
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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
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