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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, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
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- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
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