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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, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
Friday, 20 November 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 ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
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- Indo Tambangraya Megah - Indonesia
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- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
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- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
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- Interocean Group of Companies - India
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- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
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- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
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- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
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- Electricity Authority, New Zealand
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- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
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