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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, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Planning Commission, India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
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