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