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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, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- Bhatia International Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
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