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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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Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- The University of Queensland
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
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