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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, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
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