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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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Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
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