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