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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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Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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Showing 1441 to 1445 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
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