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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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Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- SMC Global Power, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- ASAPP Information Group - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
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