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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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Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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Showing 1416 to 1420 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
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