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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, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
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- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
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