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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, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
Wednesday, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
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- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- PTC India Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
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