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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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Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
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- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
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