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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, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
Friday, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
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- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- The University of Queensland
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
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