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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- The University of Queensland
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
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