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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, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
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- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
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