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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, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
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- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
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