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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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Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
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- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
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