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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, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
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- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- The University of Queensland
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
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