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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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Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
Friday, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
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- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
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