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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, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- ICICI Bank Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
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