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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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Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
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- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
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