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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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Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
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