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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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- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- PTC India Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
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