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Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
 Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal prices and adding order uncertainties for exporters, Fitch Ratings and CRU say. Miners from Australian and Indonesia are the most exposed, but the credit impact is muted thanks to sufficient rating headroom as we have already incorporated a downward pricing trend in our rating assumptions.
The Chinese coal market’s tightness has eased due to a combination of weaker demand and improved domestic supplies. Chinese coal demand has declined as residential power consumption reduced at the end of the winter heating season in mid-March and hydro supply increased in south China due to heavy rains. Chinese domestic coal supply has gradually improved in recent quarters as the pace of capacity closures has slowed and incremental capacity has been expedited to bring down fuel costs, according to CRU. Inventories at the six main power producing groups edged up to 16.0 million tonnes in late March, 13% higher than the average for 2018 of 14.1 million tonnes.
Growing domestic supply is likely to prompt the Chinese government to tighten control over thermal coal imports. This would imply higher order volatility and risks for seaborne coal suppliers targeting the Chinese market, which are mainly miners in Australia and Indonesia. The Chinese government appears to have adopted an on-and-off importing policy since 2017 by implementing stricter checks when domestic supply is sufficient and speeding up clearing when domestic supply is tight. Australian coal cargoes, for example, have been facing increasing delays clearing customs at Chinese ports since February, according to CRU.
While seaborne coal remains price competitive compared to domestic coal, risks of long clearing time and import bans may discourage Chinese consumers from using seaborne coal, especially when domestic supply is sufficient.
Australian coal producers are likely to face the risk of order cancellation, and to some degree, be forced to compete for sales in alternative countries. This may lead to weak prices in the seaborne market, especially for the mid-content-value coal of around 5,500kcal/kg that Chinese importers typically buy from Australia.
Imports from Indonesia have been less affected by the recent Chinese controls, according to press reports, although Indonesian producers are still likely to come under pressure to find new markets due to overall declining Chinese demand for seaborne coal, as well as increasing Indonesian domestic output, and weaker-than-expected domestic demand.
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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
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