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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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
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