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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- The University of Queensland
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
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