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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, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
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 ...
Thursday, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
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- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
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