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