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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, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
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- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
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