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