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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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Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
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