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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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Monday, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
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- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
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- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
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- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
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- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
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- Indonesian Coal Mining Association
- Eastern Energy - Thailand
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- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
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- Kumho Petrochemical, South Korea
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- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
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- Dalmia Cement Bharat India
- Australian Coal Association
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- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
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- Chamber of Mines of South Africa
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- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Parliament of New Zealand
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- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
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- Georgia Ports Authority, United States
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- Electricity Authority, New Zealand
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- Anglo American - United Kingdom
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- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
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- Tamil Nadu electricity Board
- MS Steel International - UAE
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
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