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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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Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
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