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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, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
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- Electricity Authority, New Zealand
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- International Coal Ventures Pvt Ltd - India
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- Baramulti Group, Indonesia
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- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Australian Coal Association
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- The University of Queensland
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- IEA Clean Coal Centre - UK
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- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
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- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
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- Essar Steel Hazira Ltd - India
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- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- CNBM International Corporation - China
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- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
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- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
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- Orica Australia Pty. Ltd.
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- Trasteel International SA, Italy
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- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
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- MS Steel International - UAE
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
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