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