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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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Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
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- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
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