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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, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
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- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Minerals Council of Australia
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