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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, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Minerals Council of Australia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
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