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