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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, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- The University of Queensland
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
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