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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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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
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