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