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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Marubeni Corporation - India
- Mjunction Services Limited - India
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