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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, 11 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 ...
Tuesday, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
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- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
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