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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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Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- The University of Queensland
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
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