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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, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
Wednesday, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
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- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
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