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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, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Planning Commission, India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- MS Steel International - UAE
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
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