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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
 - Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
Moody's Investors Service maintains negative 2020 outlooks for the US coal and US steel industries and a stable outlook for the global base metals sector, amid slowing economic growth and trade frictions, the rating agency says in its annual report.
The stable outlook for global base metals is driven by supply/demand fundamentals despite weaker GDP rates and lower Purchasing Managers Indexes (PMIs). However, a challenging macro operating environment warrants some caution for the sector.
"Geopolitical and economic concerns as well as trade tensions will once again overshadow the global base metals markets in 2020, continuing the pressures experienced as 2019 as deceleration in global economies took hold," says Carol Cowan, Moody's Senior Vice President. "ESG considerations will also continue to increase in visibility, demanding more transparency and improvement from the industry."
Moody's negative outlook for the US steel industry reflects its expectation that weaker fundamentals will hold in 2020, prices will not rebound significantly and planned new capacity will weigh on market sentiment.
"It's a tale of 2 steels – EAF producers will continue to benefit from lower scrap costs, helping mitigate lower realized steel prices, while blast furnace producers will continue to face higher iron ore costs and likely-increasing costs related to environmental compliance," says Cowan.
Meanwhile, Moody's expects US coal producers' cumulative EBITDA to decline by more than 3% over the next 12 months, due to a substantive decrease in export prices in 2019 among other factors.
"The outlook for thermal coal is increasingly stressed, with ESG factors weighing heavily on demand from utilities," says Benjamin Nelson, Moody's VP-Senior Credit Officer. "Our long-term outlook for North American thermal coal calls for a substantial volume reduction over the next decade, driven by utilities switching to natural gas, where we expect prices will remain low, and renewable energy, which still benefit from government subsidies."
Moody's outlooks for 2020 consider fundamental credit conditions that will affect sectors for the next 12-18 months.
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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Central Java Power - Indonesia
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- Indian Energy Exchange, India
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- Economic Council, Georgia
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- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
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- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
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- IHS Mccloskey Coal Group - USA
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- SMC Global Power, Philippines
- Xindia Steels Limited - India
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- GMR Energy Limited - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
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- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
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- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
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- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
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- Toyota Tsusho Corporation, Japan
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- Energy Development Corp, Philippines
- Latin American Coal - Colombia
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- Australian Coal Association
- Goldman Sachs - Singapore
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- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
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- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
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- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
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- Independent Power Producers Association of India
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- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- The University of Queensland
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- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
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- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
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- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
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- Bharathi Cement Corporation - India
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- Essar Steel Hazira Ltd - India
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- Medco Energi Mining Internasional
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