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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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Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- The University of Queensland
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
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