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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, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
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- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- PTC India Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
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