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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
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