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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, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Planning Commission, India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
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