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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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Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
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- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Indian Energy Exchange, India
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