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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
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