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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, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
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