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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, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
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- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
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