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