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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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Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
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