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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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Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
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Showing 1516 to 1520 news of total 6871 |
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- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- White Energy Company Limited
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
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