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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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Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Economic Council, Georgia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
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