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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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Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
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- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
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