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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, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
Wednesday, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
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- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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