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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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Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
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- White Energy Company Limited
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
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