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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, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
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