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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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Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
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- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
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- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Planning Commission, India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
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