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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, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
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- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
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- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
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- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- VISA Power Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
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