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