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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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Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
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- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Australian Coal Association
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
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