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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, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
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- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- MS Steel International - UAE
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