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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, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
Friday, 20 November 20
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, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
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- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
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