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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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Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
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