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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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Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
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- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Minerals Council of Australia
- White Energy Company Limited
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Planning Commission, India
- PowerSource Philippines DevCo
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