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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- White Energy Company Limited
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
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