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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 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
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- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- The University of Queensland
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
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