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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, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
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- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
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