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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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Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- The University of Queensland
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
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