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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, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
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