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Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
 Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take time to recover to pre-epidemic levels, says Fitch Ratings. Decreased production in China because of the extended work holiday and factory closures will affect import and export volumes in first-quarter 2020 but diversified revenue streams and long-term contracts help shield most US, EMEA and LATAM port revenues from significant trade volatility. However, some rated APAC ports will be affected if the slowdown in trade is prolonged.
China’s trade volumes have grown significantly since 2000 in tandem with China’s expanding role in the world economy. If more companies suspend Chinese operations or withdraw from production in China, shipping volume may take longer to recover. A sustained dip in volumes could pressure ports with a large exposure to China cargo and would constrain throughput growth compared with expectations prior to the outbreak.
Reduced trade due to the virus exacerbates the effects of the 2018-2019 trade barriers on US West Coast port volumes in particular. US-China trade levels were expected to pick up somewhat with Phase One of the US-China trade deal set to go into effect on Feb. 15 but this rebound may take longer to take hold because of the virus-related production slowdown.
Most European and Middle Eastern ports have significant exposure to China through the global supply chain and port revenues will be stressed if volumes remain depressed through March or beyond. Some EU manufacturing sectors are dependent upon the Chinese market. Middle East export volumes will be hurt by significant declines in Chinese demand for oil. Balance sheet flexibility and the ability to defer capex should help ports manage through short-term volume declines. Ports with additional congestion such as shipping boxes piling up could potentially charge more for storage and handling, which could be a partial offsetting factor for lost revenue.
In some cases, ports’ long-term guaranteed contracts or lease agreements with most tenants provide a revenue floor, which helps to insulate port revenue from trade-related volume volatility. This is the case for the more exposed US West Coast ports, where minimum annual guarantees cover 70% plus of operating revenue, and the Port of Melbourne in Australia, where one-third of revenue is independent of shipping volumes.
Fitch-rated Australian coal export terminals will see a volume impact from prolonged slowdown in industrial activity in China. However, the revenues of these export terminals are largely independent of throughput due to the use-or-pay nature of their contracts with the coal mines. Indonesian coal terminals, however, will be hit as Indonesia exports about one-quarter of its coal to China. Throughput at other Indonesian ports will also be affected as China is the country’s top trading partner. India, on the other hand, has less trade exposure to China than Indonesia, and Indian port operators are better placed to absorb a reduction in trade.
Ports have established screening procedures related to virus containment, which may delay or discourage cruise ship traffic in particular. Most of Fitch’s rated ports are predominantly cargo-focused, limiting the direct effects of cruise sector quarantines and related measures. Restrictions in the cruise sector will have limited revenue effects at cargo-dominated ports, although ports handling a higher share of cruise business may see a dip in passenger revenue as negative traveller sentiment limits cruise demand.
Source: Fitch Ratings
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Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
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- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
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