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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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Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
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- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- The University of Queensland
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
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