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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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Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
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