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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, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 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 ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- The University of Queensland
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