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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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Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
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- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- The University of Queensland
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
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