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