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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, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
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