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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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Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
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- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
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