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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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- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
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