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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, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
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Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
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- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Australian Coal Association
- Renaissance Capital - South Africa
- Minerals Council of Australia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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