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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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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
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