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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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Monday, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Ministry of Transport, Egypt
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- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
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- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
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- Carbofer General Trading SA - India
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- Coal and Oil Company - UAE
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- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
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- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
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- GMR Energy Limited - India
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- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
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- Economic Council, Georgia
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- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
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- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
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- Medco Energi Mining Internasional
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
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- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Parliament of New Zealand
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- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
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- White Energy Company Limited
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- Electricity Authority, New Zealand
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- Indo Tambangraya Megah - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
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- Coalindo Energy - Indonesia
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- Romanian Commodities Exchange
- Deloitte Consulting - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
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- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
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- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
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- Chamber of Mines of South Africa
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- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
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- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
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- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
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- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
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