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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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Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
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