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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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Wednesday, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
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- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
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