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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, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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Showing 1411 to 1415 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
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