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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, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
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- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
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