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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
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